Russia will return to Egypt debt for the construction of the dam in Aswan

The energy ministries of Egypt and Russia signed a memorandum of mutual cooperation, designed to permanently consolidate the close relations of states in the energy sector. The document provides for the priority role of Russian companies in the construction of energy facilities in the African state. One of the key points of the agreement was a controversial point about the construction of the Aswan Dam, built by the USSR in the 1960s.

As noted in the Ministry of Economy of Egypt, the Soviet Union overestimated the cost of building a hydraulic structure and the Russian Federation, as the successor, is obliged to repay the unnecessary costs of Cairo. After five years of debate, the parties were able to agree on a compromise amount of payments.


“We are pleased that Russia from Soviet times was and remains our reliable ally. I will say more, I am sure that we will not find such a reliable and compliant partner. Over the past few days we have signed a number of contracts designed to improve the energy situation in Egypt. Perhaps a couple of power plants Russia will build us to repay the debt of the USSR. It will be humane and fair, ”said Egyptian Energy Minister Mubarak Al-Bader.

The amount of the Russian debt, by agreement of the parties, will not be announced.

The day of the official opening of the construction of the Aswan hydroelectric complex is January 9, 1960. On this day, the president of Egypt, pressing the red button on the remote control of an explosive device, produced an explosion of rock in the pit of future structures. The dam was completed on July 21, 1970, but the reservoir began to be filled as early as 1964, when the first stage of dam construction was completed.

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