On Thursday, Minister of Investment and International Cooperation Sahar Nasr signed two agreements of cooperation worth $65m with Abdulwahab Al Bader, director general of the Kuwaiti Fund for Arab Economic Development, in the presence of Minister of Housing Mostafa Madbouly. These agreements include financing of KDW 18.5m ($64.6m) and a grant worth KDW 100,000 ($340,000). The second agreement is a grant worth KWD 100,000 for financing the applied project for organic farming technology and bio-oil crops in the North Sinai governorate. This will support the Egyptian government’s development plans in Sinai, according to Nasr. This project is the second project financed by the Kuwaiti Fund for Development as a contribution in the development programme of Sinai after establishing five water desalination plants in South Sinai through which the Kuwaiti Fund provided financing worth $100m.

Source: Daily News Egypt March 16, 2017 15:45 UTC