PRESS RELEASE

Egypt Makes Suez Canal Bonds Quota in Eight Days

Sept. 15, 2014 (EIRNS)—Egypt Central Bank head Hisham Ramez told Al-Hayat TV Sept. 15 that it has raised 61 billion Egyptian pounds ($8.5 billion) for the construction of an expansion of the Suez Canal by selling investment certificates. The non-tradeable five-year certificates at 12%, sold only to Egyptians. President Al-Sisi inaugurated the digging of the new canal section Aug. 5, projecting that it would be constructed by the end of 2015.