Egypt receives 15 bln USD from UAE investment for Mediterranean coast project

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Egypt receives 15 bln USD from UAE investment for Mediterranean coast project

STORY: Egypt receives 15 bln USD from UAE investment for Mediterranean coast project SHOOTING DATE: March 1, 2024 DATELINE: March 2, 2024 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of a cabinet meeting 2. various of the central bank 3. various of counting banknotes STORYLINE: The Egyptian government announced that it had received five billion U.S. dollars on Friday from the United Arab Emirates (UAE) as part of the latter's multibillion-dollar investment to develop a new city on Egypt's northern coast. According to a statement released by the cabinet, an amount of five billion dollars was received on Thursday as part of the same deal. Additionally, the central banks of both countries have completed the coordination required for transferring a five billion dollar deposit from the UAE to Egypt. "With the receipt of a total of 15 billion U.S. dollars, the first tranche of the 35-billion U.S. dollar investment from UAE has been received," the statement added, adding the rem

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