Egypt, Kuwait ink MoU to enhance scientific, technical cooperation
Updated 9/12/2024 2:22:00 PM
Arab Finance: Egypt's Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat signed a memorandum of understanding (MoU) for scientific and technical cooperation with Kuwait during the 13th session of the Egyptian-Kuwaiti Joint Committee held in Cairo, as per a statement.
The MoU aims to bolster joint efforts in development and infrastructure projects, including the Sinai Peninsula Development Program.
In her address, Al-Mashat emphasized the importance of Kuwait's role in bridging infrastructure gaps and supporting Egypt's development projects.
She highlighted the significant contributions of the Kuwait Fund for Arab Economic Development, which has financed 54 projects across various sectors in Egypt, totaling approximately $3.5 billion.
Al-Mashat also discussed Egypt's macroeconomic stability efforts and structural reforms aimed at boosting competitiveness and attracting both local and foreign investments.
She noted that the Egyptian government is committed to strengthening cooperation with Kuwait and other Arab financial institutions, particularly in initiatives like the "Decent Life" project.
The MoU represents a continuation of the productive partnership between Egypt and Kuwait, which began in 1980 and has included diverse development projects and technical aid amounting to around $50 million.
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