$1.5B set for North Sinai projects from Arab funds: minister

CAIRO – 13 August 2017: Around $1.5 billion were accessed from Arab funds for development projects in North Sinai governorate, Minister of Investment Sahar Nasr said Sunday.

The projects are in the fields of infrastructure, to build roads that link northern and southern Sinai together, build agriculture complexes, develop handicrafts and establish service projects.

Egypt will request Arab funds to increase finance volume for Sinai projects, which are carried out by the Armed Forces’ Engineering Authority, Nasr told Egypt Today on the sidelines of a field visit to the eastern Egypt governorate.

Governor of North Sinai Abdel Fatah Harhour said that the undergoing projects are 19 development projects. Other seven projects are located in South Sinai to cultivate 18,000 feddans to provide new job opportunities.

In July, the House of Representatives approved an agreement signed with the Kuwaiti Fund for Arab Economic Development (KFAED) to grant KWD 100,000 (KWD 1= $ 3.31) to fund model project for organic and biological farming technology in the North Sinai governorate.