Egypt’s Tourism Ministry denies JICA managing GEM
Updated 11/3/2025 9:47:00 AM
Arab Finance: The Ministry of Tourism and Antiquities denied reports claiming that the Japan International Cooperation Agency (JICA) was granted the right to use or manage the Grand Egyptian Museum (GEM) for 10 years in exchange for two concessional loans from the Japanese government, according to a statement.
The ministry elaborated that the two loans are concessional financing obtained by Egypt from the Japanese government, with extended grace periods and favorable financing terms.
These loans are being fully repaid by the state in accordance with the agreed-upon schedules, the ministry added, affirming that the Egyptian government has already begun repaying them.
In the same vein, the ministry affirmed that the GEM is an economic entity under its authority, which also chairs its board of directors.
Related News
