| Saudi Arabia's sovereign wealth fund, Public Investment Fund PIF) will sign a preliminary agreement Sunday to invest up to 30 billion Saudi riyals ($8 billion) in Egypt's energy, tourism, and housing sectors. The agreement will be signed by Egyptian Minister of Investment Ashraf Salman.
The planned investments are part of Saudi King Salman's announcement made last December about the kingdom's plans to increase investments in Egypt. Public Investment Fund is a sovereign wealth fund of the Government of Saudi Arabia. It seeks to invest through equity, loans or guarantees, and through allocations of public funds to specific projects...............................................Full Article: Source
|