Sisi approves $95.5 Kuwaiti loan for development in Sinai

CAIRO - 18 May 2017: President Abdel Fatah el-Sisi approved $95.5 million loan agreement from Kuwaiti Fund for Arab Economic Development (KFAED) on Thursday to develop five water treatment plants in South Sinai, according to a presidential statement.

KFAED also provided the Egyptian Ministry of Military Production, a loan worth of $658,942 on Wednesday. The loan will be used to develop solar power stations and a factory to produce solar panels from silica sand, according to the State Information Service.