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FINANCIAL NEWS
Russia, Egypt and UAE Fund capital to hit USD500mn
05 Jul 2016
(MENAFN) Egypt agreed with the Russia on the value of planned investments in the joint Russian-Egyptian-UAE Fund to reach USD500mn.
Additionally, in May 2015 Egypt has agreed with the Russian and Emirati sides to establish investment fund in which Abu Dhabi Investment Fund will contribute.
The Egyptian-Russian-Emirati fund will provide important funds for a number of projects, set to be applied among the framework of developing Suez Canal area.
Meanwhile, Egypt aims to start establishing Russian industrial zone in Feb 2017, which will be built on the space of 2mn meters in East Port.
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