Central Bank of Egypt receives part of funds for Ras El-Hekma’s deal: El-Sisi

The CBE will receive another sum of the investment on March 1st, El-Sisi added

Staff Writer, Arab Finance

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Egyptian President Abdel Fattah El-Sisi stated that the Central Bank of Egypt has received a part of the agreed-upon funds with Abu Dhabi Developmental Holding (ADQ) under the country’s $35 billion Ras El Hekma deal, Al Arabiya reported.

The CBE will receive another sum of the investment on March 1st, El-Sisi added.

On February 23rd, the Egyptian cabinet announced that it would receive $35 billion in foreign direct investment (FDI) from ADQ for the Ras El Hekma project.

The country is set to get the investment in two tranches; the first worth $15 billion within a week and the second tranche of $20 billion within two months.

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