International cooperation minister: Egyptian House approves $217 million financing agreements for development projects

International cooperation minister: Egyptian House approves $217 million financing agreements for development projects

Minister of International Cooperation Rania Al-Mashat stated that the House of Representatives approved four development financing agreements worth $217 million with development partners, to implement a number of projects in the fields of wastewater management, water desalination in the Sinai Peninsula, and the development of Small and Medium-sized Enterprises (SMEs); along with a development financing agreement that aims to strengthen governmental institutes in order to enhance the public services. These projects fall within the Ministry's framework to support the national development agenda, across various sectors.

 

The House of Representatives corroborated the Presidential Decree No. 76 for 2021, approving a second loan agreement between Egypt's government and the Kuwait Fund for Arab Economic Development (KFAED) that is worth $183 million, to finance the establishment of Bahr El-Baqar Drainage System.

 

Another collaboration with the KFAED was also approved according to the Presidential Decree No. 77 for 2021, approving a development financing worth $18 million, to establish two seawater desalination plants in the cities of New Rafah and New Bir El-Abd.

 

The House of Representatives also condoned the Presidential Decree No. 17 for 2021, which approves amending the executive protocol