Egypt's parliament has approved setting up of a 200 billion Egyptian pounds ($11 billion) sovereign wealth fund, state-owned Middle East News Agency reported on Tuesday.
The "Egypt Fund" will seek to sustainably develop the country's wealth through its assets and natural resources, it added.
The fund will be eligible to participate in all economic and investment activities, including setting up companies, investing in financial instruments, and other debt instruments in Egypt and abroad.
The parliament on Monday passed a law, approving a 5 billion Egyptian pound start-up capital for the fund, the agency said.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}