Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, signed a memorandum of understanding (MoU) with Kuwait to enhance scientific and technical collaboration. This agreement was finalized during the 13th session of the Egyptian-Kuwaiti Joint Committee in Cairo.
The MoU focuses on boosting joint development and infrastructure projects, notably the ambitious Sinai Peninsula Development Program. Minister Al-Mashat highlighted Kuwait’s pivotal role in supporting Egypt’s key development initiatives, underscoring the significant contributions from the Kuwait Fund for Arab Economic Development, which has financed 54 projects in Egypt, amounting to approximately $3.5 billion.
Al-Mashat further discussed Egypt’s ongoing efforts towards macroeconomic stability and structural reforms designed to enhance competitiveness and attract investment. She reiterated Egypt’s commitment to deepening cooperation with Kuwait and other Arab financial entities, particularly in projects like the “Decent Life” initiative aimed at improving living standards.
This MoU is a testament to the longstanding and productive partnership between Egypt and Kuwait, a relationship that dates back to 1980 and encompasses a broad spectrum of development projects and technical assistance totaling around $50 million.
