Cairo – The Egyptian cabinet approved a draft presidential decree regarding an amendment to the finance agreement signed with the Saudi Fund for Development (SFD).

The agreement includes financing the establishment of King Salman bin Abdul Aziz University in South Sinai’s El-Tor City, according to a cabinet statement on Wednesday.

The value of the loan has been amended to SAR 1.456 billion to finance the implementation of the civil works of the projects, including buildings of facilities and administrations, entertainment facilities, and staff and student accommodations.

Source: Mubasher

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