A delegation of the Kuwait Fund for Arab Economic Development will visit Egypt in March to discuss the fund’s contribution to Sinai Peninsula development projects.
The director general of the fund, Abdel-Wahab Al-Bader, said the fund is keen to support Egypt’s development projects, especially in Sinai, which is one of its priorities.
Badr's comments came during a meeting held Thursday with Egypt’s Minister of International Cooperation Rania El-Mashat within the scope of her official visit to Kuwait.
Badr added that the fund has financed 52 projects across various sectors in Sinai since the inception of its involvement in Sinai in 1980.
The two sides discussed the Egyptian-Kuwaiti cooperation strategy through 2022, which focuses on founding partnerships with the private sector, in addition to preparations for the fund visit in March to discuss its contribution to the second phase of Sinai development projects.
El-Mashat also met with Abdlatif Al-Hamad, director general and chairman of the Board of Directors of the Arab Fund for Economic and Social Development, who emphasised the fund’s focus on development in Sinai.
The two sides discussed increasing fund finance for the private sector and its role as a key partner in number of developmental projects in Egypt.