Egypt receives US$ 10 billion from Ras al-Hikma deal ...Egypt

Egyptian cabinet spokesperson Mohamed al-Hommosany announced that the government on Friday received another five billion dollars from the first installment of the Ras al-Hikma investment partnership deal with the UAE – thereby completing the first tranche worth a total of $10 billion. Prime Minister Mostafa Madbouly announced during the cabinet meeting on Thursday that measures have been taken to coordinate between the Central Bank of Egypt and the UAE to transfer five billion dollars from the deposit into the Egyptian pound. He assured that within two months, Egypt will receive the remaining amount announced to complete the $35 billion in direct investment entering the country from this dea

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