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Egypt: Investment Ministry, KFAED Sign 2 Agreements to Support N. Sinai Projects
Source: 11/20/2017

The Investment Ministry in Egypt has signed two agreements with the Kuwait Fund for Arab Economic Development (KFAED) to support projects in North Sinai.

Worth 12.5 million Kuwaiti dinars, one of the projects is meant to extend drinking water to the city of Al Arish, said Investment Minister Sahar Nasr.

Under the second agreement, the KFAED will allocate five million Kuwaiti dinars for the reclamation of 400,000 feddans in North Sinai, she added.

Abdul Wahab Al Bader, Director General of the KFAED, said the fund is keen on supporting projects in the peninsula.

So far the KFAED has secured some 2.763 billion dollars to bankroll 44 development projects in many fields, Bader noted.

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