Kuwait Fund supports Egypt''s poultry industry with KD 26 million

by 5m Editor
18 June 2007, at 11:32am

CAIRO - Egypt's Minister of International Cooperation commended on Sunday the role by the Kuwait Fund for Arab Economic Development (KFAED) in the development projects in Egypt.

Egypt' Prime Minister Ahmed Nazif met with KFAED Director General bdulwahab Ahmad Al-Bader

The statement by Minister Fayza Abul-Naga followed the signing of a loan agreement between the Fund and Egypt worth KD 26 million (USD 86 million), coinciding with the visit by Kuwait's Crown Prince His Highness, Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah to Egypt that started today.

"The (loan) agreement emphasizes the distinguished relations between the two countries," Abul-Naga told the Kuwait News Agency (KUNA) referring to the KFAED as a "main partner in development in Egypt" since it was established.

She said the loan would be allocated for rehabilitating Egypt's poultry industry, adding that that was the 29th agreement with the Fund.


5m Editor