28 March 2014

Egypt: Minister - U.S. $2.4 Billion From Arab Fund for Economic and Social Development

Minister of Planning and International Cooperation Dr. Ashraf el-Araby revealed the existence of an international cooperation portfolio with the Arab Fund for Economic and Social Development (AFESD) with the value of USD 2.4 billion.

Araby pointed out that an amount of USD 56 million from AFESD has been distributed to the development of archeological and historical areas as well as slums.

For his part, Abdulatif Al Hamad, the Director-General of the fund said that supporting the power linkage project between Egypt and Saudi Arabia will be a beginning for transmission and export of electricity among the Arab countries. He added that the fund has allocated 63% of its loans to support the electricity sector.

Al Hamad pointed out that the Egypt's account in the fund will be provided with USD 50 million.

Within a related context, the Kuwait Arab Fund for Economic Development will sign an agreement on March 31, in Cairo to finance the electricity sector in Egypt.


RSF Demands Release of Journalists Detained in Egypt

As the Egyptian judicial authorities prepare to begin two major trials involving journalists in the next three days, … see more »

Copyright © 2014 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 1,400 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.