Egypt receives 14 bln USD from UAE as 2nd payment of investment deal: cabinet

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Egypt receives 14 bln USD from UAE as 2nd payment of investment deal: cabinet

STORY: Egypt receives 14 bln USD from UAE as 2nd payment of investment deal: cabinet SHOOTING TIME: file DATELINE: May 16, 2024 LENGTH: 00:00:45 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the cabinet headquarters 2. various of Egyptian PM speaking 3. various of U.S. dollars STORYLINE: Egypt has received 14 billion U.S. dollars from the United Arab Emirates (UAE) as the second payment of a 35-billion-dollar investment deal signed in February to develop Ras Al-Hekma, a new resort city on Egypt's northern coast, the Egyptian cabinet said Wednesday. During a cabinet meeting, Egyptian Prime Minister Mostafa Madbouly confirmed the receipt of the payment, which he said would "contribute to pumping more dollar resources," according to a statement released by the cabinet. In early March, Egypt announced the receipt of 15 billion U.S. dollars from the UAE as the first tranche of the 35-billion-dollar deal. The sum included 5 billion received in late February, another 5 billion received in earl

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  • 2024/5/16 00:00:00
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