By Mostafa Adel

Cairo – Mubasher: The Egyptian government will sign 13 loan agreements worth $1.9 billion with Saudi Arabia during King Salman’s visit to Egypt tomorrow, said a state official who preferred to remain anonymous.

The king will pay a three-day visit to Cairo in which the agreements will be inked for enhancing bilateral cooperation in the industrial sector, the peaceful use of nuclear energy, and other fields.

The kingdom will provide most loans to develop the Sinai Peninsula by injecting $1.5 billion in 11 investments, including King Salman University in Tur Sinai, as well as projects in poultry Ffrming and land reclamation, and in New Suez Canal, the source added.

Moreover, the investments entail two Cairo projects at $400 million for developing a power station in Cairo and renovating Kasr El Aini Hospital.

Saudi Arabia aided Egypt with billions of dollars, cash deposits, oil products, and grants for stimulating its dollar-starved economy.  

Translated by Ahmed El-Sayed Ali