Egypt said Saudi Arabia’s crown prince has directed the kingdom’s sovereign wealth fund to invest an initial $5 billion in the North African country.

In a step toward bolstering economic cooperation, the Saudi Public Investment Fund (PIF) announced an initial investment of USD USD 5 billion (EGP 103,269,295) (EGP 242 billion) in Egypt on 17 Sep

Egypt's Prime Minister Mostafa Madbouly said on Thursday that a planned Saudi Arabian investment of $5 billion in Egypt is independent of funds the Gulf state has deposited in the country's central bank,

Saudi Crown Prince Mohammed bin Salman announced in his meeting with Prime Minister Mostafa Madbouly that the Saudi Public Investment Fund (PIF) will invest $5 billion in Egypt as part of an initial phase,

Saudi Arabia will pump five billion U.S. dollars into Egypt, as a first phase of investment, the Egyptian cabinet said,

Saudi Crown Prince Mohammed bin Salman has directed the Saudi Public Investment Fund to invest $5 billion into Egypt. This announcement follows a meeting between Egyptian Prime Minister Mostafa Madbouly and the Crown Prince,

Egypt said Saudi Arabia’s crown prince has directed the kingdom’s sovereign wealth fund to invest an initial $5 billion in the North African country.

The Egyptian cabinet said in a statement on Monday that Saudi Crown Prince Mohammed bin Salman has directed the Saudi Public Investment Fund (PIF) to pump $5 billion worth of investment money into Egypt in what it called a "first stage".

Saudi Crown Prince Mohammed bin Salman has instructed the Saudi Public Investment Fund to invest $5 billion in Egypt. This investment is termed as the 'first stage', following a meeting between Egyptian Prime Minister Mostafa Madbouly and the crown prince in Riyadh.