Saudi Arabia extends term of $5bln deposit at CBE

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The kingdom has continued supporting the economic stability in Egypt

Staff Writer, Arab Finance

December 1, 2022

PHOTO

Saudi Arabia has extended the term of its $5 billion deposit at the Central Bank of Egypt (CBE), Saudi Press Agency (SPA) reported on November 29th.

The kingdom has continued supporting the economic stability in Egypt.

Egypt has implemented several structural reforms that contributed to boosting the growth of the private sector as well as achieving more sustainable growth rates.

Alongside the Saudi deposit at the CBE, several investments in foreign currencies have been pumped into the Egyptian market and are projected to help in opening new financing channels with regional and international organizations.

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