Parl't approves presidential decree on KWD 60m loan agreement with AFESD

CAIRO - 25 July 2018: The House of Representatives approved on Wednesday presidential decree no. 301/2018 on a loan agreement between the Egyptian government and the Arab Fund for Economic and Social Development (AFESD).

The KWD 60-million loan deal, inked on April 22, aims at financing a project to develop the electricity transmission network.

The parliament's decision came after discussing a relevant report, which was compiled by a joint commission from the House of Representatives' energy and environment committee in addition to the economic affairs committee.