Tuesday, January 15, 2008

Egypt to receive USD 105mn from Kuwaiti development fund for power plant.

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Egypt to receive USD 105mn from Kuwaiti development fund for power plant. The Kuwait Fund for Arab Economic Development agreed to grant Egypt a USD 105mn loan to finance the construction of a new power plant, daily Al-Alam Al-Youm reported. The project is located in Abu Qir, 200km north of Cairo . The fund was established in 1961 and has financed 29 developmental projects in Egypt with total value that reached USD 1.48bn.

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Egypt to receive USD 105mn from Kuwaiti development fund for power plant.

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