Cairo – Mubasher: The Arab Fund for Economic and Social Development (AFESD) has approved KWD 825,000 ($2.8 million) in grants to Egypt.
The AFESD will secure KWD 500,000 to the North African nation to finance the Pope Central Library affiliated to the Coptic Orthodox Church in Egypt, Egyptian investment minister Sahar Nasr said in a statement on Tuesday.
The grants also include KWD 100,000 to provide medical equipment to Theodor Bilharz Research Institute in Cairo, in addition to KWD 225,000 to support food safety in a number of countries, including Egypt.
Egypt and Kuwait had previously signed an agreement to continue financing the construction of five water desalination plants in South Sinai at a cost of $100 million.
This came on the sidelines of the investment minister’s meeting with the heads of Arab funds at the annual meeting for Arab fund institutions held in Jordan.
