Mubasher: Kuwait Fund for Arab Economic Development has signed 50 loan agreements with Egypt since 1964, regional manager for Arab countries Abdullah Al Musaibih said, according to Kuwait News Agency (KUNA).
Kuwait Fund has lent Egypt loans valued at $3.4 billion since the year 1964, Al Musaibih said on the sidelines of Kuwait’s participation in the second edition of Al Ahram Energy Conference which was held under the sponsorship of Egypt’s prime minister Mostafa Madbouly.
More than 30 of these signed loan agreements have been withdrawn and fully executed, including the project of developing Suez Canal at a total KWD 9.8 million ($33.3 million), Al Musaibih added, according to KUNA.
