Back

EGYPT’S 10-YEAR PLAN FOR NEW OIL WELLS

“ese EGYPT’S 10-YEAR PLAN FOR NEW OIL WELLS Then ten-year plan to sink artesian wells in the previnces of Kena and Girga, Upper Egypt, to provide perennial ir- rigation, will cost about £ES,428,000. Of that amount, it is expect- ed that the International Bank of Reconstruction will grant a loan of ££5,9280,00 to be paid in two instalments. It will be spent on the purchase of ma- chinery. The first instalment of £E8,393,000 in American dollars will be spent on the installation of diesel units and electric works, providing water for 100,000 acres. The Egyptian Ministry of Public Works has been asked to submit all particulars about the project to the Ministry of Finance. These will then be submitted to the Bank of Re- construction for consideration before approval of the loan.