Japan will extend up to $307.7 million in loans to Egypt to help rebuild the Egyptian Museum, where King Tutankhamen's golden mask is exhibited.
Japan and Egypt exchanged notes on the loans in Cairo Sunday evening. The loans will cover nearly half of the total rebuilding costs of $617.09 million, Jiji Press reported Monday.
During talks with Egyptian President Hosni Mubarak in May 2003, Japanese Prime Minister Junichiro Koizumi promised to support the project.
The plan is to rebuild the museum, which opened in 1902, to a new museum called Grand Egyptian Museum, with about 100,000 items on display.
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