Singapore's Destiny Energy to build $210m green ammonia facilities in Egypt's SCZONE    Egyptian pound gains slightly against dollar in early Wednesday trade    Egypt, Uzbekistan explore renewable energy investment opportunities    Egypt's ICT sector a government priority, creating 70,000 new jobs, says PM    Egypt's SCZONE, China discuss boosting investment in auto, clean energy sectors    Tensions escalate in Gaza as Israeli violations persist, humanitarian crisis deepens    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    LLC vs Sole Establishment in Dubai: Which is right for you?    French court grants early release to former President Nicolas Sarkozy    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Egypt's Al-Sisi, Russian security chief discuss Gaza, Ukraine and bilateral ties    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Egypt's private medical insurance tops EGP 13b amid regulatory reforms – EHA chair    400 children with disabilities take part in 'Their Right to Joy' marathon    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt, Albania discuss expanding healthcare cooperation    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Hungary, Egypt strengthen ties as Orbán anticipates Sisi's 2026 visit    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Egypt establishes high-level committee, insurance fund to address medical errors    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



AfDB signs $50mn loan deal with Egypt for Sharm El-Sheikh airport
Amwal Al Ghad Published in Amwal Al Ghad on 12 - 10 - 2015

Egyptian Minister of International Cooperation Sahar Nasr signed a US$50 million loan agreement with the African Development Bank (AfDB), provided through the Africa Growing Together Fund.
The loan is designated to complete financing Sharm El-Sheikh International Airport.
In a statement Sunday, the ministry said Nasr signed the loan agreement on the sidelines of the bank's annual meetings and that of the International Monetary Fund in Lima, Peru.
The statement added that Sharm El-Sheikh International Airport is considered one of the projects that will contribute to the redevelopment of infrastructure and increasing the civil aviation sector's competitiveness in Egypt, serving the economic and social development goals in South Sinai.
The project aims to increase the capacity of Sharm El-Sheikh airport, and redeveloping it's infrastructure to serve the tourism sector; this will be through establishing a new passenger terminal with all its annexes and facilities. The total capacity of the airport is expected to reach about 18 million passengers annually.

Clic here to read the story from its source.