SR 300 Million Soft loan was Extended by the SDF

SR 300 million soft loan, about L.E. 480 million, was extended by the SDF - Saudi Development Fund to finance the rehabilitation of irrigation and drainage pumping stations at 200,000 feddans land country wide including the procurement of 60 electric motors. This was reported in the media quoting Egypt's Minister of Water Resources and Irrigation indicating that the project will add new agricultural land, reduce operation and maintenance costs, reduce consumption of electric energy and improve the quality of irrigation and drainage apart from reducing pollution. Loan is for disbursement over four years.