Arab Fund to finance Egyptian projects at USD 363.98mn

06 Apr 2016

(MENAFN) Egypt signed two deals with the Arab Fund for Economic and Social Development (AFESD) in order to finance projects value USD 363.98mn.

Moreover, the country will use this financing in the fields of irrigation and agriculture, and electricity.

The value of the first agreement reached USD 165.45mn, which will finance a water conservation project and development of the agriculture system.

On the other hand, the second one is valued at USD 198.53mn, and will finance the project of generating electricity in Damanhour power plant.

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