Kuwait Loans 60m To Aid Egypt's Gas Network
From The National
In an effort to bring some relief to Egypt’s overstretched treasury, the Kuwait Fund for Arab Economic Development has offered it a loan to improve its natural gas infrastructure.
The loan, worth an estimated US$60 million (Dh221.7m) – and awaiting the approval of the Egyptian government and Mohammed Morsi, the country’s new president – would increase the number of homes in Cairo and Giza using Egyptian natural gas and reduce reliance on imported fuel, the Kuwait Fund”s director general Abdelwahab Al Bader said last week.
