Egypt Secures Record $35 Billion Investment Deal with UAE
TL;DR Summary
Abu Dhabi has pledged to invest $35 billion in Egypt to help ease its currency crisis, providing a significant boost to the country's struggling economy. The investment is expected to support Egypt's foreign exchange reserves and help stabilize its currency, which has been under pressure due to the economic impact of the Covid-19 pandemic. This move reflects Abu Dhabi's commitment to supporting Egypt's economic development and strengthening bilateral ties between the two nations.
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- Ras al-Hekma: Egypt signs huge $35 billion deal with UAE The New Arab
- Egypt, UAE sign investment deal to develop Ras al-Hikma peninsula west of Alexandria Al Arabiya English
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