Saudi Finance Minister lays foundation stone of hospital renovation project
Ibrahim Abdulaziz Al-Assaf, Saudi Finance Minister - REUTERS

CAIRO: Saudi Finance Minister Ibrahim Assaf will lay the foundation stone of Cairo University’s Qasr Al Aini Hospital renovation project Sunday, Youm7 reported.

The move comes as part of an agreement signed with the Egyptian Minister of International Cooperation Sahar Nasr Friday to upgrade Cairo’s biggest hospital at a cost of $120 million.

The project will be carried out through a loan provided by the Saudi Fund for Development to be repaid over 20 years with a grace period of five years, the Kingdom’s ambassador to Cairo Ahmed al Kattan was quoted by Youm7.

The agreement is one of 17 signed Friday in presence of President Abdel Fatah al Sisi and visiting Saudi King Salman bin Abdel Aziz.

Agreements to establish King Salman bin Abdulaziz Al Saud University in the city of Al Tor in South Sinai, and a residential complex project as part of King Salman’s program for the development of Sinai are among others signed by the two leaders Friday.

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