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FINANCIAL NEWS
Egypt negotiates to receive USD300m of Sinai’s loan
24 Sep 2016
(MENAFN) According to a government source, Egypt’s Ministry of International Cooperation is about to receive Abu Dhabi Fund for Development (ADFD) loans geared for development projects in Sinai.
The source added, the first stage of ADFD loan will include financing an advanced greenhouse farming project, at a total cost of USD300m.
Additionally, the Egyptian ministry has formerly signed a $1.5 billion financing deal with the Saudi Fund for Development for the development of Sinai.
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