Govt mulls financing nuke program with international bond offer

Ali Eddin Helal, media secretary of Egypt's ruling National Democratic Party, said on Wednesday that the Finance Ministry was thinking about funding Egypt’s nascent nuclear program by offering government bonds on international money markets.

He explained that the bonds would be paid in installments over the span of a century, with the first payment to be issued after 40 years

“The government could thereby obtain all necessary funding for its first nuclear power station within a six-month period,” Helal noted.

He added, however, that the government had not yet approved the idea, since it was still possible to secure the needed funds from the state budget.

“The bonds serve as an acknowledgment of Egypt's robust economy,” Helal said.

Translated from the Arabic Edition.

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