Egypt to Receive $187.5m from Kuwait for Butane Imports

Egypt to Receive $187.5m from Kuwait for Butane Imports

Kuwait has granted Egypt a $187.5m loan to import butane in line with the 2009 and 2012 agreements that have been activated only now, Al-Mal reports.  The reasons for this delay remain unknown. Egypt generally faces butane shortage in winter months due to increased demand.

Minister of International Cooperation, Sahar Nasr also said that negotiations are under way for Kuwait to offer more than the $2b in aid remaining from pledges made at the Sharm al-Sheikh conference in March. The Minister is asking for greater deposits into Egyptian banks.

Login

Welcome! Login in to your account

Remember me Lost your password?

Lost Password