Governmental source revealed Wednesday that Egypt will sign 13 loans with Saudi Arabia with the total value of $1.9 billion, during Saudi King Salman bin Abdulaziz to Egypt, Al-Bawaba News reported. The Source predicted that most of the loans will be allocated for Sinai reconstruction through funding 11 projects, including the King Salman University project, and number of other projects in the Suez Canal Axis. The loans also include investments of two projects in Cairo with cost of $400 million, which are the construction of a power station in Cairo, and the development of Kasr Aini hospital. The source added that the signing will promote a number of cooperation between the countries including the industry field, electricity projects and the peaceful use of nuclear energy. The King had asked Saudi investors to increase their investments within the range of 30 billion riyals ($8 billion Dollars) in the Egyptian market during the coming period.
