Egypt has asked Japan for more money. Egyptian Deputy-Premier Mohammed Abdul Hatem arrived in Tokyo,?
Egypt has asked Japan for more money. Egyptian Deputy-Premier Mohammed Abdul Hatem arrived in Tokyo, the Japanese capital, on Friday February 15. He met Japanese Deputy-Premier Takeo Miki and Prime Minister Kakuei Tanaka, on Friday (February 22) and asked for a further loan of GBP 1,000-million (about GBP 400-million sterling) -- about ten per cent of Japan's total foreign reserves. Recently, Japan has given Egypt $ 240-million (about GBP 100-million sterling) in loans to help clear the Suez Canal and for general economic aid. The Suez Canal was blocked in the June 1967 war between Egypt and Israel. Several ships have been stranded in the Canal's Great Bitter Lakes since the closure.
Japanese shipyards have benefited from the Canal's closure in the past seven years by building giant oil tankers designed to carry world fuel around Africa's Cape instead of through the Suez Canal, the previously traditional route for cargo between East and East.