Parliament approves agreements on grants to finance projects

CAIRO – 3 July 2017: Parliament approved presidential decree no. 239/2017; approving the agreement signed by the government of the Arab Republic of Egypt. The Kuwaiti Fund for Arab Economic Development and the International Cooperation Sahar Nasr will grant KWD 100,000 to Egypt.

The grant is allocated for funding the model project for organic and biological farming technology in the North Sinai governorate.

The Parliament also approved presidential decrees no. 216/2017 and 217/2017. Both projects were approved for financing and grant agreements by the French Development Agency in support of the primary health care program. Those agreements were signed by the agency and Nasr on March 27.

The Parliament’s approval for all three agreements came after having discussed two reports presented by the joint committee. The joint committee is formed by health affairs, economic affairs, and foreign affairs committees at the Parliament.

Since 2015, the Ministry of Investment and International Cooperation procured $ 11 billion to finance housing projects, road networks, power plants, water and wastewater treatment plants, and the introduction of natural gas domestically.