Egypt and the Kuwait Fund for Arab Economic Development (KFAED) sign a KWD 12.5-mn loan agreement to finance water access project in Al Arish, North Sinai, Invest-Gate reports.

The total cost of the water project is estimated at  EGP 732 mn, which comes as part of the Egyptian government’s program to develop the Sinai.

The developmental project seeks to upgrade the water supply network in Al-Arish to cope with the demand of the inhabitants until 2037.

KFAED’s total allocated fund is estimated at USD 900 mn directed to the Egyptian program for developing the Sinai Peninsula.