Egypt seeks renewal of $5bn deposits from Saudi Arabia
The article discusses Egypt's negotiations with Saudi Arabia regarding the renewal of deposits worth $5.3 billion, which are due in October. It indicates that the negotiations are focused on determining a new maturity period for the renewal, but no final agreement has been reached yet. The article explains that these deposits have been part of Saudi financial support to Egypt since 2014, alongside other deposits that are renewed annually, amounting to $5 billion, bringing Saudi Arabia’s total deposits to approximately $10.3 billion. Additionally, Kuwait and Qatar each hold deposits worth $4 billion, increasing the total deposits of the three countries in Egypt to around $18.3 billion. The economic cooperation between the countries continues, with trade exchange reaching $18 billion in 2025.
Notice: This Is an AI-Generated Summary
Comments (0)