Egypt, Saudi Arabia to enhance business ties

09 Apr 2016

(MENAFN) Egypt and Saudi Arabia are expected to sign 24 agreements, which will vary between many economic sectors; like elect, housing and education.

Moreover, the two sides will sign a loan value USD 1.5bn, which will be given for the development of a university in Sinai.

Additionally, the Sinai area will acquire almost 50 percent of the anticipated deals, involving the establishment of the Development Road.

The Saudi investors pledged to invest US dollars to Egypt, in order to supplement Egypt’s deficit, which dropped to USD 16.5bn.

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