Saudi backing for a new Egyptian power plant plus deliveries of fuel oil are among deals worth more than $55bn resulting from last week’s visit by Saudi Arabia’s King Salman to Egypt’s President Abdel Fatah al-Sisi (MEES, 15 April).
The Saudi Fund for Development (SFD) is lending Egypt $100mn for the Cairo West power project, which is expected to cost $700mn. The National Bank of Egypt, the Kuwait Fund for Arab Economic Development, the Arab Fund for Economic and Social Development and the Islamic Development Bank are also contributing, according to state news agency MENA. (CONTINUED - 879 WORDS)
