Japan secures $400 million soft loan for Egypt’s Grand Museum

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Egypt and Japan have recently signed a $400 million soft loan to complete the first phase of the Grand Egyptian Museum (GEM), Egyptian minister of international cooperation Sahar Nasr announced Tuesday.

Described as the largest archaeological museum in the world, the Grand Egyptian Museum (GEM), also known as the Giza Museum, is a planned museum of artifacts of ancient Egypt. The museum is sited on 50 hectares (120 acres) of land approximately two kilometers from the Giza pyramids and is part of a new master plan for the plateau.

In May 2015, former Minister of Antiquities Mamdouh al-Damaty announced that the museum would be partially opened in May 2018.