Nasr meets with international lenders to talk financing Sinai development plans

Nasr meets with international lenders to talk financing Sinai development plans: Investment and International Cooperation Minister Sahar Nasr met yesterday with representatives from several international financing and development institutions to look into locking down funding for Egypt’s planned development of the Sinai peninsula, according to a ministry statement (pdf). Among those attending the meeting were officials from the World Bank, EBRD, Saudi Fund for Development, Asian Infrastructure Investment Bank, Islamic Development Bank, and the Abu Dhabi Fund for Development. The World Bank is expected to provide a USD 1 bn package for the development efforts, which Nasr is reportedly looking to lock down before the year is out.