Saudi Arabia extends term of USD5 billion deposit for Central Bank of Egypt

Riyadh, Nov. 29 (BNA): The Kingdom of Saudi Arabia announced the extension of the term of the Saudi deposit amounting to 5 billion dollars in the Central Bank of Egypt.

The Saudi Press Agency (SPA) said that there is also continuous communication between stakeholders in the two countries in order to enhance coordination according to various mechanisms, the most important of which are those related to pumping many investments into the Egyptian market in hard currencies, in addition to Saudi deposits. , which is expected to contribute to opening new financing channels with regional and international organizations, including facilitating the completion of the International Monetary Fund program agreement.”

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