Egypt has received the second installment of the Ras al-Hikma deal from the UAE, worth $14 billion (LE655.7 billion), boosting the country’s dollar resources which recently suffered from a shortage of hard currency, Prime Minister Mostafa Madbouly announced on Thursday. The nation’s foreign currency availability has improved after Egypt signed an agreement with the UAE in February, under which ADQ (the holding company) acquired the development rights for the Ras al-Hikma project for $24 billion to develop the area, in addition to converting $11 billion of UAE deposits with the Central Bank of Egypt into investments in major projects. Egypt’s treasury has already received $10 billion in Emira
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