Egypt: Kuwait, Egypt Sign 300 M Dinar Loan Agreement for Upgrading Railway Signals

A loan agreement was signed by the Egyptian government and the Kuwait Fund for Arab Economic Development (KFAED), under which the fund will offer 300 million Kuwaiti dinars ($ 180 million) to finance a project of upgrading railway signals of the rail line linking Banha, Zaqaziq, Ismailia and Port Said. The agreement was co-inked by Egyptian Deputy Prime Minister and Minister of International Cooperation Zeyad Bahaaeldin and KFAED Director Abdel-Wahab al-Badr. The project aims at contributing to boosting safety at this railway line.

KFAED Director has already arrived in Cairo on Tuesday 1/10/2013 on a several days' visit to meet with a number of officials to review new electricity projects financed by the fund.

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