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FINANCIAL NEWS
Kuwait signs USD 108mn loan for Egypt’s Helwan Project
16 Mar 2016
(MENAFN) Egypt has signed almost USD 108mn loan with the Kuwait Fund for Arab Economic Development (KFAED), which is the second loan signed between them.
Moreover, the loan was signed to help finance Egypt’s South Helwan Power Project worth USD 1.7bn.
Accordingly, the Kuwaiti loan is of 2.5 percent interest per year, while the project will add almost 1,950 megawatts to Egypt’s national grid.
In addition, the volume of collaboration portfolio between the two sides reached USD 2.6bn, around 41 projects in many economic and social sectors.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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