Gulf countries to invest in Egypt sovereign fund - FT.com:
"Saudi Arabia, the United Arab Emirates and Kuwait are considering investing in a multibillion-dollar “sovereign fund” to finance projects in Egypt, according to a senior government official in Cairo.
Al-Youm al-Sabei, an Egyptian newspaper, reported on Wednesday that the Gulf countries would invest $10bn in the fund ahead of a high-profile international investment conference in Sharm el-Sheikh next month.
The official, who would not confirm the sums involved, said the “sovereign fund . . . would invest in renewable energy, infrastructure projects and job creation schemes” in Egypt. He added: “It will also fund projects in health and education. There is a lot of attention to the social dimension of the economic reform process”."
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