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Egypt approves 50m euro loan deal with Germany

Egyptian President Abdel Fattah El Sisi issued a decree on Thursday approving a 50-million-euro loan agreement with Germany.

Under the agreement, the loan is channeled into building a 30-million-euro solar power station and a 20-million-euro project for supporting education and vocational training.

The 30-year loan - to be extended by the KfW bank - has a 10-year grace period with a 2% interest rate.

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