Kuwait Grants Egypt USD 1 Billion in Loans for Funding Infrastructure

Fund Director General Abdulwahab Al Badr has revealed to Zawya that over the next three years, the Kuwait Fund for Arab Economic Development will give USD 1 billion in loans to Egyptian infrastructure developments.

The funding will be directed to electricity, water, transport, communications and irrigation projects. Currently, Kuwait is financially supporting Sharm El Sheikh’s tunnel road, along with four destination plants in South Sinai.