Cairo –  Egypt's President, Abdelfattah El-Sisi, on 9 October 2022 issued a decision approving a grant between Egypt, represented by the Ministry of International Cooperation, and the Kuwait Fund for Arab Economic Development (KFAED).

The KWD 750,000 grant will be used in conducting the technical, economic, and environmental feasibility study for the railway system project linking Egypt and Sudan. The feasibility study was inked in Jeddah on 7 April 2022, Akhbar El-Yom reported on Sunday.

The KFAED is a Kuwaiti public institution that extends loans on a concessionary term to finance development projects in developing countries. Moreover, it provides technical assistance to finance the costs of the feasibility studies of projects and train nationals of borrowing countries. Additionally, it subscribes to the capital of international and regional development institutions, according to the fund's website.

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