Minister of International Cooperation Naglaa el-Ahwani and director of the OPEC Fund for International Development (OFID) Suliman al-Harbash have signed an agreement on funding a power plant in the Upper Egyptian city of Assuit.
Under the agreement, Egypt will receive 55 million dollars worth of soft loan to establish the power plant.
The loan will be provided in coordination with the Islamic Development Bank, Arab Fund, and the Kuwaiti fund.
El-Ahwani stressed her country's keenness on cooperating with its development partners abroad, praising OFID as one of its important international partners.
The loan will serve more than 3.5 million Egyptians in Assuit by providing them with electricity.