Director General of the Kuwait Fund for Arab Economic Development (KFAED) Abdulwahab Al Bader said Sunday the fund is ready to provide any needed funds for Sinai development project of the KFAED loan to Egypt.

In statements to MENA, Bader said the fund is committed to finance Egypt with $300 million annually.

Meetings are still ongoing with an Egyptian delegation headed by International Cooperation Minister Sahar Nasr to discuss proposed projects and their economic feasibility, he added

Benefits on these loans will be repaid in long periods, Bader said.