DUBAI: The United Arab Emirates and Egypt plan to jointly invest $20 billion in economic and social projects, under a bilateral project announced by the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al-Nahyan on Thursday.
Sheikh Mohammed made the announcement on Twitter during a two-day visit to the UAE by Egypt's President Abdel Fattah El-Sisi.
Abu Dhabi Development Holding Company and Egypt's sovereign wealth fund will use the funds to establish joint strategic investment projects, specialized funds and investment tools, in a number of sectors, Egyptian presidential spokesman Bassam Rady said.
UAE, Egypt plan $20 bln spending on social, economic projects
UAE, Egypt plan $20 bln spending on social, economic projects
- Sheikh Mohammed made the announcement on Twitter during a visit to by Sisi
- The funds will be used to establish joint strategic investment projects, specialized funds and investment tools, in a number of sectors
