Saudi deposits $5bn in Egypt, plans to invest double ...Kuwait

Saudi Arabia has deposited $5 billion at Egypt's central bank, according to state media in both countries, a day after Qatar pledged $5 billion in investment and amid a surging wheat import bill. The Egyptian and Saudi governments have signed a draft agreement for Saudi investments in the country totalling a projected $10 billion, according to a statement by the Egyptian cabinet. The announcements come as the North African country enacts a slate of financial measures to mitigate the economic fallout of Russia's invasion of Ukraine. As the world's largest importer of wheat, Egypt relied on the two countries for 85 percent of its supply, as well as 73 percent of its s

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Last updated : 30 March 2022 clock 07:42 PM

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Saudi deposits $5bn in Egypt, plans to invest double ...Kuwait

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