Volume of Kuwait Fund’s contributions to development projects in Egypt worth $3.6B

Volume of Kuwait Fund’s contributions to development projects in Egypt worth $3.6B

CAIRO – 27 September 2021: Kuwait Fund for Arab Economic Development (KFAED) has supported the development of 54 projects, amounting to $3.6 billion since the start of its cooperation with Egypt in 1980, according to the Director General of the Kuwait Fund for Arab Economic Development (KFAED), Marwan Alghanem. Alghanem clarified that the supported projects come across several sectors namely, health, transportation, agriculture, water, petroleum, mineral resources, water and sanitation, alongside 14 grants and technical support agreements worth $48.6 million. Alghanem also pointed out that the KFAED is a key partner for Egypt, emphasizing the volume of work and achievements in megaprojects. He applauded the development boom and mega projects that Egypt is witnessing, such as the Bahr El- Baqar Wastewater Treatment Plant, alongside the developments made in the New Administrative Capital (NAC). This came during Egypt’s Minister of International Cooperation Rania A. Al-Mashat meeting with the Director General of the Kuwait Fund for Arab Economic Development (KFAED), Marwan Alghanem, on his first visit since assuming his new position. During the meeting, Al-Mashat stressed Egypt’s commitment to cooperation with the KFAED, and that more partnerships, opening the door to further development, are in the pipeline. Al-Mashat added that the Government