(MENAFN) MENA news agency reported a deal between Egypt and Saudi Arabia to have been signed for a USD16 billion joint investment fund to be established.
The agreement was reportedly confirmed by Egyptian presidential spokesman Bassam Rady to be aiming at increasing the number of new initiatives Egypt launches.
The spokesman further confirmed both countries to have signed several deals and memorandums of understand in areas that involve investment and environment protection.
The deals were said to have been signed during an event that took place in Cairo, with the presence of Egyptian President Abdel-Fattah al-Sisi along with Saudi Crown Prince Mohammed bin Salman.
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