The Kuwait Fund for Arab Economic Development (KFAED) is planning to provide Egypt with loans of around USD 320 mn throughout 2017, head of the fund Abdel Wahab Ahmed Badr tells Al Shorouk. According to Badr, Egypt’s share accounts for 32% of KFAED’s total planned loans for the world this year, and the fund will direct the loans to the projects Egypt needs financing assistance for and prioritizes. KFAED has provided Egypt with several grants and loans in the past, including a USD 15 mn grant to establish a desalination plant in Port Said and a USD 108 mn loan to help finance the South Helwan power plant. Investment and International Cooperation Minister Sahar Nasr also signed two cooperation agreements worth a combined USD 65 mn with the fund last week.

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