Egypt says more than half of conference promises turned into projects

Egypt has turned more than a half of initial agreements signed at an investor conference in Sharm El Sheikh in March into investment projects, the planning minister said on Saturday.

In an interview with Reuters, Ashraf al-Arabi also said Egypt would offer dollar-denominated bonds to the market "depending on need" and did not expect more grants from Arab Gulf states, only fuel aid.

The minister did not provide a value for the new projects and was talking about the number of MoUs signed at the three-day summit back in March.