Cairo – Mubasher: Egypt is in negotiations with the Arab Fund for Economic and Social Development (AFESD) over KWD 715 million ($2.35 billion) financing facilities to support 17 projects, the country’s investment and international cooperation minister said.
The total funding granted by the AFESD to Egypt reached about KWD 1.5 billion ($5 billion) directed to 63 projects, Sahar Nasr added during the inaugural session of the annual meetings of Arab financial institutions held in Kuwait.
In 2018, the Kuwait-based AFESD provided KWD 464 million ($1.5 billion) finances to six Arab countries, including Egypt which received KWD 110 million ($352 million) for water, transportation, agriculture, social services, and energy projects.
