Mubasher: Egypt and Kuwait have signed a framework agreement to finance the second phase of the Sinai development programme at a value of $1 billion until 2022.  

The agreement follows the success of the first phase of the development programme, which has started in 2016 and will end by 2019, with Kuwait Fund for Arab Economic Development, the Egyptian cabinet disclosed on Monday.

Egypt’s investment and international cooperation minister, Sahar Nasr, signed the agreement with Kuwait’s deputy prime minister, Sabah Khalid Al Hamad Al Sabah.

It is worth mentioning that Egypt’s prime minister, Mostafa Madbouli, has discussed ways of mutual cooperation with his Kuwaiti counterpart earlier on Monday.