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Tuesday, 30 August 2016

Saudi transfers USD 300 mn as part of Sinai development loans

The Saudi Fund for Development has transferred USD 300 mn to Egypt as part of the USD 1.5 bn Sinai development loan, International Cooperation Minister Sahar Nasr told Amwal Al Ghad. This brings the total amount received from Saudi Arabia to develop Sinai to USD 500 mn after the Kingdom transferred USD 200 mn earlier this year to support SME projects, she added. Projects being financed through the loan include the King Salman University, the King Salman Bridge, and upgrades to the Kasr El Aini hospital, among others.

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