These statements came during a discussion session held with the Minister of International Cooperation, Rania Al Mashat with Majid Al Qasabi, Saudi Minister of Commerce
The Saudi Fund for Development’s portfolio in Egypt amounts to about $2.3 billion since 1975, through which 32 projects were financed in various fields of development, including health, education, catering, irrigation, electricity, transportation, roads and bridges, agriculture, and housing, according to the Ministry of International Cooperation (MOIC).
The Saudi Fund’s current cooperation portfolio amounts to almost $869.2 million, to finance 8 projects in Egypt.
These statements came during a discussion session held with the Minister of International Cooperation, Rania Al Mashat with Majid Al Qasabi, Saudi Minister of Commerce at the Ministry’s headquarters in the New Administrative Capital, in the presence of Mr. Osama bin Ahmed Nuqli, Ambassador of the Kingdom of Saudi Arabia to Egypt. This is part of a Saudi delegation visit to Egypt headed by Al Qasabi to discuss investment opportunities in Egypt.
Among the most notable projects in the Saudi Fund for Development portfolio are the Al Mahsama Water Reclamation Plant, the Bahr El Baqar Water Treatment Plant, the inauguration of King Salman University, and the residential and agricultural communities’ project in Sinai. These projects amount for almost $1.5 billion, according to the MOIC.
Earlier this week, The Saudi Al Lami Holding Group announced its plans to invest $500 million in Egypt over the next two years in the tourism and real estate sectors.