Saudi Arabia to invest $7 mln in development projects in Egypt
Saudi Arabia has signed three agreements to finance a range of industrial development projects in Egypt, the Saudi Press Agency reported on Thursday.
The Saudi Fund for Development (SFD) will invest $7 million into renewable energy, agriculture and livestock projects outside Greater Cairo and Alexandria.
The agreements included the signing with EFG Hermes for Leasing, a subsidiary of EFG Hermes Finance, UE Finance, a microfinance company, and Global Lease company.
The signing ceremony took place in the presence of Egyptian Minister of Investment and International Cooperation, Dr. Sahar Nasr; Egyptian Minister of Transport, Lieutenant General Kamel Al-Waziri; and Saudi Ambassador to Cairo Osama bin Ahmed Nuqali.