KSA Pushed Deposit USD One Billion

The Minister of Planning, Fayza Abul Naga stated that within KSA commitment towards Egypt, KSA pushed deposit amounting to USD one billion which transferred to the Central Bank of Egypt as deposit for 8 years.

The Minister takes this opportunity to express thanks and appreciation of Egypt’s leadership, government and people to KSA and its Kingdom for his support to help increasing the Egyptian economy growth within such current conditions.

Coordination is carried with the Saudi side concerning enforcement of the agreement signed between the Minister of Planning and the Saudi Finance Minister at the sidelines of the annual meetings of the Arab funds. Agreement includes USD 500 million for financing development projects of priority to the Egyptian government, along to provision of USD 250 million for financing the purchase of petroleum products, and USD 200 million as gift grant for SMEs.