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IDB enhances its support for a power station in Egypt
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Egyptian President Mohamed Morsi met with President of the Islamic Development Bank (IDB) Ahmed Mohamed Ali on Tuesday 7/8/2012 to discuss boosting investments in Egypt.
The IDB approved to finance Helwan power station with $ 250 million, while the IDB had earlier pumped LE 200 million loan to help solve the Egyptian power problem, said IDB president after the meeting.
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The IDB's financial contributions to Egypt reached $ 4.2 billion including $ 2.1 billion to finance purchase oil and wheat, one billion dollars to finance oil and some basic commodities as well to finance small and medium sized projects.
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