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Presidential Decree Approving Loan Agreement With AFESD
Source: www.export-egypt.com 5/3/2018

President Abdel Fattah El Sisi issued decree no. 328/2017, approving a loan agreement between the Egyptian government and the Arab Fund for Economic and Social Development (AFESD). The loan amounts to 26 million Kuwaiti dinars and with a 2.5% annual interest rate. It was signed on April 18, 2017. Under the agreement, the Kuwait-based pan-Arab development finance institution will fund the establishment of a photovoltaic power plant, with a 50-megawatt capacity, in Aswan's Kom Ombo city. The decree was published in the official gazette out Thursday 3/5/2018.


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