Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Receives Second Installment of “Ras El Hekma” Deal worth $14 Billion

Wed 15 May 2024 | 09:41 PM
Taarek Refaat

Egyptian Prime Minister Mostafa Madbouly announced that Egypt had received the second batch of the deal to develop the city of Ras El Hekma.

Madbouly pointed out that $14 billion had been reached, and that procedures had begun to waive $6 billion for its equivalent in Egyptian pounds.

He revealed an increase in remittances from Egyptians abroad and the abandonment of the dollar in the banking system and exchange offices in light of the decline of the parallel market.