Sandoz Egypt introduces OMNITROPE 15mg biosimilar growth hormone for the treatment of short stature    Egypt After 2025: Navigating a Critical Inflection Point    Spot Gold, futures slips on Thursday, July 17th    Egypt's EHA, Huawei discuss enhanced digital health    Egypt expresses condolences to Iraq over fire tragedy    Egypt, Oman discuss environmental cooperation    At London 'Egypt Day', Finance Minister outlines pro-investment policies    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's Environment Minister attends AMCEN conference in Nairobi    Egypt's FRA chief vows to reform business environment to boost investor confidence    Egyptian, Belarusian officials discuss drug registration, market access    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    EU–US trade talks enter 'decisive phase', German politician says    Sri Lanka's expat remittances up in June '25    Egypt's Health Min. discusses drug localisation with Sandoz    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    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.