Non-refundable donation from Islamic Development Bank to Egypt
Egypt, Economics, 2/22/2000

The board of directors of the Islamic Development Bank under the chairmanship of Ahmed Mohammed Ali agreed on presenting a non-refundable donation to Egypt of $225,000 US to be used to prepare the necessary studies for providing water resources to settle the Bedouins in the Sinai Peninsula.

The Bank's board of directors also undertook presenting the necessary financing after preparing the necessary studies of these projects.

Ahmed Mohammed Ali, head of the bank's board of directors who is currently visiting Cairo, said he reviewed aspects of bilateral cooperation between the bank and the Egyptian government, saying the bank financed Egyptian investment projects worth $807 million that were used in the irrigation, drainage, energy, gas, iron and aluminum sectors in addition to financing foreign trade operations between Egypt and several Arab and Islamic countries.

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