KFAED to begin 2nd stage of program on financing development projects in Sinai

SHARM EL SHEIKH, Egypt, Dec 8 (MENA) - The Regional Manager for West African Countries of Kuwait Fund for Arab Economic Development (KFAED) Thamer al Failakawi stressed that the fund finalized the $300-million first stage of the program on financing development projects in Sinai.

The second stage of the program with the same amount of money will kick off soon, he noted in a statement during his participation in the COMESA conference.

Failakawi also said that the fund signed on Saturday with Egypt two agreements to finance a program on establishing infrastructure ventures in Sinai estimated at $35 million including drinking water projects in the peninsula.