Egypt has received an additional $5 billion from Abu Dhabi Developmental Holding (ADQ) on March 1st for the development of Ras El-Hekma project, as per a cabinet statement.

On February 29th, Prime Minister Mostafa Madbouly said that Egypt received $5 billion of the first tranche of the agreed-upon funds with ADQ under the country’s $35 billion Ras El Hekma deal.

The government is set to get the remaining amount of this investment from the UAE side within two months.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (