Egypt, Japan to sign soft loan deal Sunday

Egypt and Japan will sign a soft loan deal to establish new Dairut barrage in the Upper Egypt Governorate of Assuit.
The deal will be signed by Japan's ambassador to Egypt Takehiro Kagawa and Minister of International Cooperation Naglaa el-Ahwany at the International Congress Center in Sharm el-Sheikh.
The deal will be signed on the fringe of Egypt Economic Development Conference, due to start in hours in the Red Sea's resort of Sharm el-Sheikh, for the purpose of shoring up Egypt's economy.
The new barrage aims at enhancing the proficiency of water management to improve agricultural production in the Upper Egypt, the Japanese embassy said in a statement.
The new project will make use of the advanced Japanese technologies in this regard, the embassy said.