Egypt will expand Sharm el-Sheikh airport with funds from the Islamic Development Bank.
The $457-million finance will be given upon an agreement that was inked on the sidelines of the Egypt Economic Development Conference (EEDC) in the resort city of Sharm el Sheikh.
A new terminal with a capacity of 10 million passengers a year and a new runway will be established under the plan.
The expansion will bring to 15 million passengers the airport's capacity.