KSA and Egypt sign 3 credit loans worth $230 million

In the presence of Egypt\'s Prime Minister Dr. Hesham Gindeel and the Saudi ambassador to Egypt, Ahmed bin Abdulaziz Gattan, who is also Saudi Arabia\'s Permanent Representative to the Arab League, Saudi Arabia and Egypt signed in Cairo today three soft credit loan agreements worth $230 million as part of soft loans worth $500 million granted by the Saudi Development Fund (SDF), a Saudi government lending arm, to the Egyptian government. SDF\'s Deputy Managing President Eng. Yousef bin Ibrahim Al-Bassam signed for his organization while Egypt\'s Minister of Planning and International Cooperation Dr. Ashraf Al-Arabi signed for his country. Egypt\'s ministers of Water Resources and Irrigation Mohammed Bahauddin, Water and Utilities Abdulqawi Khalifa and Supplies and Domestic Trade Abuzaid Mohammed Abuzaid also attended the event.