Egypt and UAE agree on $20bn Investment Platform

Egypt and UAE agree on $20bn Investment Platform

During his visit to the United Arab Emirates, Egypt’s President Abdel-Fattah El-Sisi has stressed the importance of uniting Arab stances and solidarity to address the challenges facing the Arab region.

The Egypt President held a meeting on Thursday with Sheikh Mohammed Bin Zayed Al-Nahyan, deputy supreme commander of the UAE Armed Forces and crown prince of Abu Dhabi at Al-Watan Palace in the UAE capital Abu Dhabi.

Bin Zayed praised Egypt’s pivotal role in the Arab region, confirming that that Egypt will remain an essential pillar of security and stability in the Arab world.

The two leaders also oversaw the setting up of a $20 billion strategic investment platform for joint projects between Egypt and the UAE. According to Egypt’s presidential spokesman Bassam Radi, the platform will invest in a various fields and assets through the UAE’s Abu Dhabi Development Holding Company and Egypt’s sovereign wealth fund.