Saudi Arabia Extends Term of US$ 5 Billion Deposit for CBESource: www.export-egypt.com 11/30/2022, Location: Africa |
|
|
|
|
|
Saudi Arabia extended the term of a US$ 5 billion deposit with the Central Bank of Egypt, the Saudi Press Agency (SPA) reported .
It added that the move came in extension to the deep-rooted historical ties and close cooperation aspects between the Kingdom of Saudi Arabia and Egypt. These are instructions by King Salman bin Abdulaziz Al Saud and Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud. It added that Saudi Arabia continues to provide generous support to enhance economic stability of Egypt through the extention of the term of a Saudi deposit of USD5 billion at the Central Bank of Egypt. It noted that Egypt enjoys high growth potential in light of implementing many structural reforms that have stimulated private sector growth and increased its competitiveness. There is an obvious continued effort to achieve high and more sustainable and inclusive growth rates in Egypt. There is also continuous communication between stakeholders in the two countries. This is to consistently enhance coordination according to various mechanisms, mainly those related to pumping several investments in the Egyptian market with hard currencies, in addition to Saudi deposits. There is an expectation to contribute to opening new funding channels with regional and international organizations. These include facilitating the completion of the International Monetary Fund program agreement. The agency said that the Saudi support was not limited to keeping these deposits in the Central Bank of Egypt and included large investments from the Saudi public and private sectors in the Egyptian market, in a bid to achieve further economic development in Egypt, with having a firm desire to carry out more investments in various development sectors in Egypt. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
