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Kuwait Fund, Egypt sign $55 million loan accord
March 20, 2017
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CAIRO: The Egyptian Government and Kuwait Fund for Arab Economic Development (KFAED) signed the second loan accord, worth KD18.5 million ($55 million).

The new agreement, designed to contribute to financing construction of a sea water desalination plant in East Port Said, was signed by Egyptian Minister of International Investment Dr. Sahar Nasr and KFAED General Director Abdulwahab Al-Badr.

The plant, with a projected 250,000 cubic meter per day capacity, will secure drinking water to East Port City, currently under construction. With its building, due to end by 2019, up to 150,000 cubic meter of water will be initially secured per day.

Reuters

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