Presidential decree approving loan agreement with AFESD

CAIRO - 3 May 2018: President Abdel Fatah el-Sisi issued decree no. 328/2017, approving a loan agreement between the Egyptian government and the Arab Fund for Economic and Social Development (AFESD).

The loan amounts to 26 million Kuwaiti dinars and with a 2.5 percent annual interest rate. It was signed on April 18, 2017.

Under the agreement, the Kuwait-based pan-Arab development finance institution will fund the establishment of a photovoltaic power plant, with a 50-megawatt capacity, in Aswan's Kom Ombo city.

The decree was published in the official gazette out Thursday.