Sisi demands no more loans unless Cairo can afford
President Abdel Fatah al-Sisi requested International Cooperation Minister Sahar Nasr that Egypt approves no more loans unless it is certain the country would be able to pay back. Nasr said the rate of withdrawal from Egypt’s financing portfolio has increased from 10% to 44% to implement major projects, especially those with a societal aspect.
A total of 70 agreements have been signed in 2015-2016, and for housing projects the World Bank provided Egypt with $500 million while the African Development Bank provided $300 to fund projects to develop slums, a presidential statement quoted Nasr as saying.
Asyut, Midor labs to increase diesel, benzene production into 3.5m tons yearly
Refining Labs of Asyut and Midor for producing diesel and benzene will be developed at investments worth $3 billion in the next three years to increase the production to 3.5 million tons a year, according to a aSunday report by the Ministry of Planning.
Memory units of EgyptAir plane recorders detached, dried
The memory units of the cockpit recorder and the flight data recorder have been detached from the black boxes and it took eight hours to dry them at the technical research center of the Armed Forces in presence of the investigation committee of the EgyptAir Mediterranean plane crash. The French representative specialized in handling plane recorders was present during the process, according to a Sunday statement by the committee.
Parliament to revoke law on president appointing university heads
The parliament will amend a 2014 law that tasks the president with appointing heads of universities and deans of faculties so they can be appointed in other ways, head of the Education and Scientific Research Committee Gamal Shiha said Sunday.
There are eight universities without heads and more than 250 faculties without deans because of that law because the president “does not have time for this,” Shiha said, adding that the amendment will be temporary until a societal dialogue is held on means to fill such positions.