UAE grants $100 million for Egypt’s Toshka project
Egypt's Toshka water project has recently received a $100-million grant from the Abu Dhabi Development Fund, awarded by the President of the United Arab Emirates (UAE) Sheikh Zayed Bin Sultan Al-Nahyan, reported Al-Akhbar.
Launched in 1997, the massive national project, aims to turn Egypt’s southern desert into fertile land and ease demographic pressure on the Nile Valley, by diverting water from the River Nile.
The project has so far cost $711 million to develop, nearing the forecasted total of $1.2 billion, UAE Hydraulic Resources Minister Mahmood Abu Zeid told the newspaper. Saudi mogul Prince Al-Walid Bin Talal has contributed $500 million of that total. — (menareport.com)
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