17 October 2019 07:46 AM

Sisi approves deal on King Salman program for Sinai development

Friday، 27 January 2017 - 01:52 PM

President Abdel Fattah El Sisi issued a presidential decree approving an agreement on Saudi King Salman ben Abdel Aziz program for Sinai development.

The agreement was signed by Egypt and Saudi Arabia in Riyadh in March. The decree, which was approved by Egypt's parliament on June 26, 2016, was published in the Gazette on Thursday 26/01/2017.

The agreement will provide Egypt with a $1.5 billion soft loan to help it develop Sinai at an interest rate of two percent.


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