Saudi Arabia to loan $26.6 million for education project in Egypt
Oil-rich Saudi Arabia's state development fund will lend $26 million to Egypt for an education project, the official SPA news agency announced.
The sum was awarded Saturday in Cairo by Saudi Finance and National Economy Minister Ibrahim Al-Assaf to Egypt's planning ministry.
The loan will cover construction and equipment for new education facilities.
Saudi's state development fund contributes to several development projects in Egypt, including the power grid in the Sinai Peninsula and road construction. — (AFP, Riyadh)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
