(MENAFN - Daily News Egypt) Israeli newspaper Ynetnews, the English publication of Yedioth Ahronoth, published a report on Tuesday claiming that Israel is preparing a series of mega projects to assist 'Egypt's fragile economy'. Citing Ynetnews' report, Israel recently showed interest in several large-scale projects with Egypt, including desalinisation of seawater due to the potential drinking and irrigation water shortage that Egypt may face as a result of a low water levels in the Nile river. Israel will also provide assistance in other projects, including solar energy, electricity production, irrigation, and gas. Also, the UAE, Kuwait, and Saudi Arabia have only provided Egypt with a small amount of their financial commitment. The bilateral ties between Egypt and Israel are strong diplomatically and on the military level; however, locally in Egypt the conflict between the two countries is voiced as ongoing.

Source: Daily News Egypt October 20, 2016 05:15 UTC