The Egyptian Ministry of Tourism and Antiquities has denied reports circulating on some social media platforms regarding the Japan International Cooperation Agency (JICA) being granted the right to use or manage the Grand Egyptian Museum (GEM) for ten years in exchange for two soft loans from the Japanese government.
The ministry clarified that the two Japanese loans are soft loans obtained by Egypt from the Japanese government, with extended grace periods and favorable financing terms, and are being fully repaid by the Egyptian state according to the agreed-upon schedules.
The ministry added that the state has already begun repaying these loans, and that the loan is in no way linked to granting any foreign entity the right to manage, operate, or use the museum
The GEM is an economic entity fully under the authority of the Minister of Antiquities, the ministry stressed, who also chairs its board of directors.
The museum is wholly owned by the Egyptian state, which is the sole entity responsible for managing and operating the museum, its archaeological halls, storage facilities, and restoration center.
Regarding visitor services, it collaborates with Legacy Management and Development Company.
The Ministry of Tourism and Antiquities urged all media outlets and social media users to verify information before publishing or sharing it and to refer to official sources to avoid disseminating inaccurate or misleading information.
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