The Sinai Peninsula recently received a government investment worth EGP 3.8 billion, with 32 percent of the projects already implemented, the Sinai Development Agency stated, according to Daily News Egypt.

In December 2015, Egypt proposed EGP 13.3 billion ($1.5 billion) in development projects to Arab development institutions. The Kuwait Fund for Arab Economic Development (KFAED) showed interest a month later.

The Fund will finance projects worth EGP 8 billion ($900 million) over the next three years, according to Chairman of KFAED, Abdulwahab Al Bader.

The Egyptian cabinet has overseen management of the Sinai Development Agency since its establishment in 2012. The agency has implemented a free investment zone, residential complexes, and water treatment plants.

Additionally, the Ministry of Housing has invested EGP 1.8 billion in development projects in the peninsula and they are due to be inaugurated soon, Al Borsa reported.