Egypt, U.A.E. to Set Up $20 Billion Joint Investment Platform - Bloomberg:
Egypt and the United Arab Emirates are setting up a $20 billion joint strategic platform to invest in a range of sectors and assets, the presidency said Thursday.
The deal comes as President Abdel-Fattah El-Sisi is in the U.A.E. for meeting with officials and marks the latest boost the Arab world’s most populous nation has received from the oil-rich Gulf since the 2013 ouster of Islamist President Mohamed Mursi.
The investment platform will be run through Egypt’s newly established sovereign wealth fund and Abu Dhabi Development Holding Co.
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