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Sisi approves Kuwaiti loan to finance Tunnel-Sharm El-Sheikh Road

Sisi approves Kuwaiti loan to finance Tunnel-Sharm El-Sheikh Road
The 342-km-long road is planned to comprise three lanes in each direction

Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued a presidential decree, greenlighting a second Kuwaiti loan to finance the construction of the Tunnel-Sharm El-Sheikh Road project, the Middle East News Agency (MENA) reported on Thursday, citing the official gazette.

The KWD 26 million loan agreement is part of the Sinai Development Programme adopted by the Egyptian government. 

The 342-km-long road is planned to comprise three lanes in each direction.

The President issued a decree amending the first loan agreement between Egypt and the Kuwait Fund for Arab Economic Development (KFAED).