Minister of Antiquities Mohamad Ibrahim asserted that the government was committed to fulfilling its financial obligations to establish the Grand Egyptian Museum (GEM). In statements following his meeting with a delegation of the Japanese International Cooperation Agency (JICA) under its Cairo representative Hideki Matsunaga , Ibrahim said he received a letter from Finance Minister Ahmed Galal that 100 million pounds has been imbursed as a soft loan for the construction of GEM representing Egypt's quota in the project. The third phase of the museum project has been financed with a sum of dlrs 90 million as part of dlrs 300 million loan from Japan . The minister voiced hope over floated plans for finalizing the construction of the project, expected to end in 2015 to be Egypt's cultural gift for the world in the 21st century. JICA representative, on his part, welcomed any cooperation with Egypt in implementing cultural projects and that JICA is willing to continue its backing for the antiquities sector in Egypt .
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