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.