Sisi ratifies KWD 70 mln loan deal to fund Bahr el Baqar drainage system

CAIRO, June 8 (MENA) - President Abdel Fattah El Sisi has issued presidential decree no. 507/2018 approving a loan agreement between the Egyptian government and the Arab Fund for Economic and Social Development (AFESD).

Signed in Kuwait on August 8, 2018, the deal seeks to provide a loan worth 70 million Kuwaiti dinars for establishing Bahr el Baqar water drainage system.

The parliament approved the decree on February 24.

The decree was published in the official gazette on Saturday.