300 million euros loans to the Suez Canal Authority from Gulf banks

The Suez Canal Authority has already requested loans from Gulf banks worth 300 million dollars to buy two new diggers to serve the Authority's projects, the Reuters news agency said today in a report.

The agency said in its report that it had taken the step after the failure to reach an agreement with the Egyptian banks

And that the Commission signed last year a contract with a Dutch company for the supply of excavators worth 300 million euros and negotiated with the Egyptian banks and the negotiations did not succeed