Monday, August 08, 2005

Egypt sorely in need of new site

A review of some of the costs and benefits associated with the planned Grand Museum in Cairo: "The U.S. portion of the traveling King Tut exhibition is expected to raise more than $36 million for the new museum, Hawass said in a recent interview. The tour, organized jointly with commercial entertainment firms, represents the increasing drive to use private capital to market the country's archeological scene.Still, revenue from the tour falls far short of financing the new museum's huge cost. With only $100 million coming from the Egyptian Culture Ministry, Mansour hopes international cultural institutions and foreign governments will step in with the rest of the money the project needs. Negotiations are continuing between the Japanese Bank for International Development and the Egyptian government to get a low-interest loan for $300 million". See the rest of the article for more.

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