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World Bank Bid to Egypt Stands Despite Russian Offers
World Bank President Eugene Black said the bank’s offer to finance the Aswan Dam remains unchanged since February. He met with Egyptian Premier Gamal Abdel Nasser during a two day visit, as Russia’s loans to fund the project were reported in Cairo. The U.S. plan involves a World Bank loan of 200 to 250 million dollars and grants totaling about 200 million, with Egypt covering the rest. Negotiations hinge on a U.S.-Britain grant for the first phase and Nile water sharing between Egypt and the Sudan. Black stressed no shift in the bank’s position as talks continue.
MENTIONED IN THIS ARTICLE
Cairo
World Bank
Eugene Black
Aswan Dam
Black
Washington
Gamal Abdel Nasser
Nasser
Russia
Dmitri Shepilov
U. S
Masser’s
Egypt
Birelli
Upper Nile