Kuwait Finances Railways Projects in Egypt

Planning and International Cooperation Minister Fayza Abul Naga on 13/5/2012 signed a Letter of Understanding with the Kuwait Fund for Arab Economic Development to receive two technical assistances worth $2.160 million.

The letter includes financing two feasibility studies to establish a project of providing electricity to the signaling system of the railways in Tanta, Mansoura and Damietta governorates and another project to duplicate the railways between Mansoura and Damietta.

The Kuwaiti Fund is an effective and main partner in implementing development plans in Egypt during the period from 2008 to 2014, Abul Naga said. She added that the Fund financed a lot of projects in the electricity, natural gas and railways sectors.