SHARM EL-SHEIKH (Sputnik) — A total amount of investment attracted by Egypt during the economic development conference held in Sharm el-Sheikh on March 13-15 is estimated at $36.2 billion, Egyptian Prime Minister Ibrahim Mahlab said Sunday.
“The amount of the signed investment projects during three days of forum’s operation is $36.2 billion,” Mahlab told reporters.
Eighty-nine delegations have participated in the international economic development conference held in Sharm el-Sheikh.
On Friday, the opening day of the conference, Saudi Arabia, the United Arab Emirates and Kuwait pledged to donate Egypt a package of economic aid totaling $12 billion, while Oman announced the allocation of $500 million to Cairo in the next five years.
On Saturday, the Egyptian government and investment company from the UAE, Gulf Investment Corporation concluded a deal on construction of a new Egypt's administrative capital in the country's east.
Egypt requires foreign financial aid and investment after four years of unrest and political instability in the country that started after the long-standing Egyptian leader Hosni Mubarak was ousted from power in 2011.
