Saudi Arabia, Kuwait, UAE Pledge USD 12bn at EEDCSource: www.export-egypt.com 3/13/2015, Location: Africa |
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Saudi Arabia, United Arab of Emirates, and Kuwait have each pledged 4 USD billion of investments to back the Egyptian economy, officials from the three countries said during Egypt Economic Development Conference which is being held in Sharm el Sheikh.
Saudi Arabia said it would deposit USD 1 billion in the Central Bank and invest the other USD 3 billion in investments. The UAE said USD 2 billion of its pledges would be deposited in the Central Bank, while the other USD 2 billion would be invested in the economy. Kuwait, for its part, said it would invest 4 USD billion in support of the Egyptian economy. |
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