by Patrick Henningsen, 21st Century Wire:
Russia is set to provide Egypt with a $25 billion line of credit to construct the nation’s first nuclear power plant.
The plant is set to built in Dabaa and the loan will cover 85% of the costs. It will be repaid over 22 years, with the first repayment scheduled for 2029, at an annual interest rate of three percent.
Russia is going to contribute engineers, scientists and general staff to help establish and run the plant.
The plant will be ultra-modern and comply with all post-Fukushima safety standards.
This deal is sure to prove unsettling to some in the West and perhaps some in Israel; Egypt’s neighbour.
Earlier this year, after years of contention over the issue, a world historic deal was reached with Iran that will see the country peacefully developing nuclear power plants.
Iran suggested that if Israel wants a nuclear free Middle East that it should turn over its own nuclear weapons first.
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