| The legal framework for a proposed 5 billion Egyptian pound (R8bn) sovereign investment fund would be complete within four months, Egypt’s state news agency quoted the planning minister as saying yesterday. The government on Thursday approved a proposal to set up the “Amlak” fund, which will act as the state’s investment arm and is intended to encourage diversification and support sustainable economic and social development.
The fund would have a board of trustees headed by the prime minister and would be managed by investment banks in order to attract private sector investors to the projects it will fund, Planning Minister Ashraf al-Arabi said, according to the state news agency...............................................Full Article: Source
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