Last Update 10:17
Wednesday, 16 October 2019

Egypt's Sisi approves loan agreements with Kuwait Fund for Arab Economic Development

Ahram Online , MENA , Thursday 22 Nov 2018
Egypt's President Abdel-Fattah El-Sisi (Photo: Reuters)
Views: 3175
Views: 3175

Egypt’s President Abdel-Fattah El-Sisi has approved a loan agreement between the Egyptian government and the Kuwait Fund for Arab Economic Development worth KD 60 million ($20 million) to establish the Sharm El-Sheikh Tunnel Road.

The president also approved a KD 100,000 loan agreement to finance technical and economic feasibility studies for date palm cultivation and dates' processing.

The agreements were inked in Cairo in March 2018.

The fund is a Kuwaiti public institution that relies entirely on its own resources for the provision of loans and other kinds of development assistance, according to the fund's website.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.