CAIRO, March 13, 12018 - Egypt and Kuwait On Tuesday signed five agreements worth LE5 billion to finance the on-going development projects in Sinai, a statement by the Ministry of Investment and International Cooperation (MIIC) said. Minister of Investment and International Co-operation, Sahar Nasr, signed the agreements with the Director General of Kuwait Fund for Arab Economic Development, Abdulwahab Ahmad Al-Bader. The first agreement incorporates a 6 million Kuwaiti dinar fund, whose proceeds will be used for building El Nafeq-Sharm El Sheikh Road. The second agreement includes obtaining a Kuwaiti fund at a total of 17.5 million Kuwaiti dinars for building a motor-way road that would improve transport in Sinai. These ventures came within a comprehensive governmental plan to develop Sinai, boost tourism, and decrease the number of road accidents. The third agreement includes a 500,000-Kuwaiti-dinar fund to finance the second phase of a national project that aims at preserving the documents of the Information and Decision Support Centre (IDSC), which is affiliated to the Cabinet. The fourth agreement is a 100,000 Kuwaiti dinar grant that will be used for improving dates produce. The fifth agreement is worth 7 million Kuwaiti dinars that will be used for upgrading rail and road transport services nationwide, the statement said.
