Saudi Arabia deposited $5 billion in Egypt’s central bank on March 30
Riyadh approves deal on investments by PIF in Egypt
Saudi Cabinet approves agreement signed with Cairo on investments by the kingdom's Public Investments Fund in Egypt.
Wednesday 20/04/2022
Saudi Arabia deposited $5 billion in Egypt’s central bank on March 30
RIYADH - The Saudi Cabinet approved an agreement signed with Egypt on investments by the kingdom's Public Investments Fund in Egypt.
The two Arab counties signed an agreement on March 30 to support and encourage investments in Egypt by the Saudi sovereign wealth fund.
The oil-rich kingdom deposited $5 billion in Egypt’s central bank. Saudi Arabia’s Public Investment Fund is also looking into $10 billion of potential investments in Egypt’s healthcare, education, agriculture and financial sectors, according to an Egyptian cabinet statement.