Egypt to receive 2nd tranche of Ras El-Hekma deal in coming weeks: Madbouly

Madbouly noted that the government, across its different ministries, is currently working on fulfilling its obligations within the Ras El-Hekma development project

Staff Writer, Arab Finance

March 28, 2024

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Egypt will receive the second tranche of payments for the Ras El-Hekma project within the upcoming weeks, Prime Minister Mostafa Madbouly said, as cited by Al Arabiya Business.

Madbouly noted that the government, across its different ministries, is currently working on fulfilling its obligations within the Ras El-Hekma development project.

These obligations include facilitating procedures and addressing any challenges to accelerate the commencement of various development projects.

Furthermore, the government is presently promoting several other investment projects, Madbouly said.

Egypt had already received a total of $10 billion as part of the $35 billion agreement sealed with the Emirati sovereign fund Abu Dhabi Developmental Holding (ADQ) to develop Ras El-Hekma city.

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