In a recent press conference, the Arab Fund for Economic and Social Development announced that it had signed an agreement with the Libyan government that will grant the country an $82 million loan to modernize an electricity generation station in Bangazi, reported Al-Sharq Al-Awsat . Libya is expected to repay the loan over the next 20 years at a 4.5 percent interest rate. The scheme will increase the station’s capacity by 300 megawatts. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
