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Elham AbolFateh

Business

Kuwait invests $ 1 billion in Egypt until 2020

Friday 26/April/2019 - 04:31 PM
Sada El Balad
Ahmed Moamar
Dr Sahar Nasr، Minister of Investment and International Cooperation، met with Abdel Wahab Al Badr، Director of Kuwait’s Fund for Arab Development on the margins of conference of the Arab Funding Institutions held in Kuwait today.
The minister thanked officials of t he Kuwaiti fund for ongoing support to Egypt over decades.
It is taking part in financing projects in Sinai Peninsula.
She discussed with the Kuwaiti officials funding the second stage of Sinai projects over the coming period.
The Kuwaiti fund finances Bahr Al Baqar ditch in Sharqia Governorate which is considered the biggest one in the world.
This project treats some 5 million cubic meters a day.
Also Kuwait provides more than $ 2022 million to other projects until 2020.

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