Saudi Fund for Development Signs 3 Agreements within KSA's Grant to Egypt
The Saudi Fund for Development (SFD) has signed three agreements within the framework of the Kingdom Saudi Arabia's grant to the Arab Republic of Egypt with a total amount of 125 million Egyptian pounds.
The signing ceremony took place last night at the headquarters of Egyptian Ministry of Investment and International Cooperation in Cairo, in the presence of Egyptian Minister of Investment and International Cooperation Dr. Sahar Nasr; Egyptian Minister of Transport Lieutenant General Kamel Al-Waziri; and Saudi Ambassador to Egypt and Permanent Representative of Saudi Arabia to the Arab League Osama bin Ahmed Nuqali.
The agreements were signed by Head of the Saudi side of the Saudi Grant Management Committee for Egypt Engineer Hassan Al-Attas.
The agreements included the signing with EFG Hermes for Leasing, a subsidiary of EFG Hermes Finance, with an amount of 25 million Egyptian pound; UE Finance, a microfinance company, with an amount of 25 Egyptian pound; and Global Lease company, with an amount of 25 Egyptian pound.
The funding will be directed towards micro and industrial projects outside Greater Cairo and Alexandria, in addition to financing new and renewable energy projects and the agricultural and livestock sector.