Nasr in talks with World Bank on USD 1 bn loan to develop Sinai
Nasr in talks with World Bank on USD 1 bn loan to develop Sinai: Investment and International Cooperation Minister Sahar Nasr is talks with the World Bank for a USD 1 bn loan to develop Sinai, the minister is reported to have said, according to Al Mal. She gave no further detail on the talks. Sinai development shot up to the top of the Ismail cabinet priorities, when the Prime Minister pledged earlier this month EGP 275 bn for Sinai development over four years. Nasr had signed a USD 100 mn loan from the Kuwait Fund for Arab Economic Development (KFAED) to complete the financing of five water desalination plants in South Sinai, while the Ismail Cabinet signed off on USD 258.5 mn in funding from KFAED for North Sinai.