Egypt gets $25 billion loan from Russia for nuclear plant
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CAIRO - Egypt has announced a $25 billion loan from Russia for the building of a nuclear power plant.
Thursday's announcement came in a decree by President Abdel-Fattah el-Sissi. The Russian loan will cover 85 percent of the expenses of the plant's construction.
Egypt, which will cover the other 15 percent, is to repay the loan over a 22-year period, starting in 2029, with a 3 percent annual interest rate.
