Parliament Approves Loan Deal on King Salman University

The Education and Scientific Research Committee of the House of Representatives (HoR) approved, during its meeting, today, Tuesday, the Presidential Decision No. 591 for 2020 on the amended agreement to the loan deal between the government of the Arab Republic of Egypt and the Saudi Fund for Development about the King Salman bin Abdul Aziz University project in Al-Tur city, South Sinai Governorate.

The agreement came within King Salman Program for the Development of the Sinai Peninsula.

It stipulates the modifying of the amount of funds provided by the fund to the Egyptian government to become one billion and 465 million and 817 thousand and 500 Saudi riyals, for the implementation of civil works in the project, including administration buildings and colleges, playgrounds, and recreational areas, housing for students and faculty members, and network and facilities work for the three university sites, as well as consulting services.