President signs off on loan agreement with AFESD

President Abdel Fattah El Sisi signed off on two loan agreement to finance agricultural development in the Sinai worth KWD 110 mn, according to Egypt Today. The financing came from the Arab Fund for Economic and Social Development (AFESD).

This comes as Egypt signed on Friday two agreements worth a combined EGP 250 mn with the Saudi Arabian Grant Committee to fund SMEs and ride-sharing projects, according to a ministry statement. The agreements include EGP 150 mn in funding for small businesses in Egypt, and a EGP 100 mn agreement between the committee and an EFG Hermes subsidiary to fund new vehicles for ride-sharing platforms.