Egypt partners with Google to promote 'unmatched diversity' tourism campaign    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Taiwan GDP surges on tech demand    World Bank: Global commodity prices to fall 17% by '26    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    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.



Egypt, Arab Fund signs agreements worth KWD 110mn to finance projects
Amwal Al Ghad Published in Amwal Al Ghad on 06 - 04 - 2016

Egypt signed two agreements with the Arab Fund for Economic and Social Development (AFESD) on Tuesday to finance projects worth 110m Kuwaiti Dinar (KWD), according to Minister of International Cooperation Sahar Nasr.
The minister is attending the Joint Annual Meeting of Arab Financial Institutions in Bahrain as Egypt's governor in AFESD, according to a Tuesday press release from the ministry.
Egypt will use this financing in the fields of irrigation and agriculture, and electricity, the press release read.
The value of the first agreement is KWD 50m, and it will finance a water conservation project and development of the agriculture system in the Sinai Peninsula, within the project of developing the peninsula.
The second agreement is valued at KWD 60m, and it will finance the project of generating electricity in Damanhour power plant.
Nasr discussed ways of strengthening cooperation between Egypt and AFESD in the next period with the director general of the fund, Abdel Latif Al Hamad,. The portfolio of cooperation with AFESD amounts to approximately $5.3bn as of January.
The minister emphasised that the ministry wants to ensure the optimal use of the finances from AFESD. She added that any support within the ministry's means will be provided to those executing the projects, in order to guarantee fast execution so as to improve the quality of services provided to Egyptians.
It is necessary to cooperate with AFESD to support small- and medium-sized enterprises (SME), which are of special importance in the government's economic programme, according to Nasr.
SMEs will benefit from the grants provided by AFESD to those concerned about this sector in Egypt. It presents grants to improve the ways and means through which these bodies work, in addition to financing consulting services, equipment, and training workers in this field.
Al-Hamad said: "the fund has a serious and real will to provide all resources to Egypt in order to support the government programme until it is achieved, in accordance with the announced timetable."

Clic here to read the story from its source.