Bloomberg News

Egypt Secures 300 Million Riyals From Saudi Fund, MENA Reports

July 17, 2012

Egypt secured a 300 million riyal ($80 million) loan from the Saudi Fund for Development to refurbish and replace irrigation pumps, the state-run Middle East News Agency reported, citing Irrigation Minister Hisham Kandil.

The project aims to improve irrigation for more than 200,000 feddans (208,000 acres) across the country, the Cairo- based agency said today.

To contact the reporter on this story: Salma El Wardany in Cairo at

To contact the editor responsible for this story: Andrew J. Barden at

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