Cairo – Mubasher: Egypt's Minister of International Cooperation Sahar Nasr has signed a financing agreement worth $460 million with the Japanese ambassador in Cairo, according to a press release on Monday.

This granted amount will be allocated for resuming constructing the Grand Egyptian Museum (GEM), which will contribute to the tourism sector as one of the biggest museums worldwide, the minister clarified, adding that the grand museum will apply smart technology to view Egypt's historic development.

The antiquities minister Khalid Al-Anani indicated the first phase will be inaugurated by the end of 2017, including Tutankhamen space.

In the first half of 2016, the number of tourists visiting Egypt declined 51.2% year-on-year to 2.3 million visitors, said CAPMAS earlier.