(MENAFN) Egypt has signed almost USD 108mn loan with the Kuwait Fund for Arab Economic Development (KFAED), which is the second loan signed between them.
Moreover, the loan was signed to help finance Egypt's South Helwan Power Project worth USD 1.7bn.
Accordingly, the Kuwaiti loan is of 2.5 percent interest per year, while the project will add almost 1,950 megawatts to Egypt's national grid.
In addition, the volume of collaboration portfolio between the two sides reached USD 2.6bn, around 41 projects in many economic and social sectors.
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