Egypt to hold investments talk with World Bank

Egyptian Minister of International Cooperation Sahr Nasr will discuss an estimated $8 billion investments over four years with World Bank officials due to visit Egypt Tuesday, according to a statement from the ministry on Monday.

The investments are divided into two parts, as a total of $6 billion will be given to Egypt from the World Bank Housing Construction for Development projects while another $2 billion will be received from international finance bodies for investments in the private sector, the statement added.



Nasr’s visit to Washington follows on the heels of Saudi King Salman’s of five-day official visit to Cairo during which the two countries signed deals and memoranda of understanding estimated at $25 billion amid an Egyptian financial crisis due to a shortage of foreign exchange in the foreign reserves.