Turkey to give Egypt credit worth 1 billion USD
Turkey is going to pay Egypt the pledged credit worth 1 billion USD in two installments.
According to the international agreement signed by Turkish President Abdullah Gul and appeared in the Turkish Official Gazette on Friday, the first half of the credit is going to be paid as of October 30 and the second half is going to be paid as of January 30, 2013.
The payment term was stated 5 years, 3 of which was non-returnable.
Egypt will pay back the credit in 5 equal installments in every 6 months.
Adapted from Worldbulletin