Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Egypt holds special importance for our investments across diverse sectors: Japanese minister    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Indian tourist arrivals to Egypt jump 18.8% in H1-2025: ministry data    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    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    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    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    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, AFESD sign $249m grant agreement for Bahr El-Baqar drainage system
Parliament ratifies €2.9m South Korean grant to develop EPO's automated intellectual property system
Published in Daily News Egypt on 11 - 06 - 2020

Minister of International Cooperation Rania Al-Mashat has signed an agreement with the Arab Fund for Economic and Social Development (AFESD) to complete financing for the Bahr El-Baqar drainage system establishment.
The grant is worth a total of KWD 75m, equivalent of about $249m.
In a press statement on Wednesday, the minister said it is of the most important projects implemented as part of the Sinai Peninsula development programme. It aims to achieve the optimum utilisation of Egypt's available water resources.
Minister Al-Mashat indicated that the project's total estimated cost amounts to about $1bn, and is funded through a financing package from both the AFESD and the Kuwait Fund for Arab Economic Development (KFAED).
She added that the financing agreement signed on Wednesday with the AFESD is the fourth financing agreement in the financing package.
A previous financing agreement was signed with the AFESD at a value of KWD 70m (about $238m), in addition to two financing agreements with the KFAED at a value of KWD 75m, equivalent to $255m.
Also on Wednesday, Minister Al-Mashat announced that the House of Representatives approved, at its plenary session on Tuesday, a €2.9m grant from South Korea.
The grant will contribute to the project developing an automated intellectual property system at the Egyptian Patent Office (EPO), she said.
Minister Al-Mashat assured that this agreement is in line with her ministry's Global Partnerships Narrative that redefines the value of Egypt's development efforts with multilateral and bilateral public-private partnerships. These projects are working towards acceleration in the achievement of Egypt's sustainable development goals.


Clic here to read the story from its source.