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Arab News, Sunday, Apr 10, 2022 | Ramadan 9, 1443

Egypt, Kuwait Fund sign $2.5m grant deal for railway project

Kuwait: Egypt and Kuwait signed a grant agreement worth 750,000 Kuwaiti dinars ($2.5 million) to contribute to the preparation of technical, economic and environmental feasibility studies for a railway connection project between Egypt and Sudan.

Egyptian Minister of International Cooperation Rania Al-Mashat said the grant enhances the efforts undertaken by the Egyptian government to enhance economic relations with the countries in the African continent within the framework of the 2063 Development Agenda.

Al-Mashat said that Egypt has strong relations with the Kuwait Fund for Arab Economic Development which contributes to the implementation of many development projects in Egypt, especially within the Sinai Peninsula development program. 

The portfolio of cooperation with the fund, according to the minister, includes 14 technical grants worth $48.6 million. The portfolio of development projects being implemented with the Kuwait Fund for Development includes 21 projects worth $1.1 billion.

The Kuwait Fund has financed some 54 projects worth a combined $3.6 billion in Egypt in health, transportation, agriculture, water, electricity, petroleum, minerals, water and sanitation, in addition to 14 grants and technical aid worth about $48.6 million.

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