The Arab Fund for Economic and Social Development Building
Kuwait City - MENA
The Arab Fund for Economic and Social Development (AFESD) on Sunday expressed willingness to consider granting Egypt two loans worth $100 million each.
In a meeting with Egypt's Prime Minister Ibrahim Mahlab, AFESD Chairman Abdullatif Yousef Al-Hamad asserted readiness to reconsider giving Egypt the loans to develop a number of important projects.
The first loan would target funding the purchase of power plants to mend the electricity problem in Egypt.
The second loan will be used to fund a number of small and medium sized projects.