Egypt to guarantee funding for national carrier Egyptair

Reuters , Tuesday 29 Sep 2020

Egypt’s finance ministry will guarantee long-term financing of 3 billion Egyptian pounds ($191 million) from the central bank for national carrier EgyptAir, according to a law issued by the presidency, state news agency MENA said on Tuesday.

The presidency issued a separate law allowing the finance ministry to guarantee a 1 billion pound central bank loan for the Egyptian Holding Company for Airports and Air Navigation, the report said.

($1 = 15.7100 Egyptian pounds)

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