Saudi Arabia donates N3.6bn for Northeast

Posted March 07, 2018

Both leaders discussed stepping up cooperation between Egypt and Saudi Arabia across all fields, and continued consultation and coordination on various regional and global issues to enhance joint Arab action.

Along with its allies the United Arab Emirates (UAE) and Kuwait, Saudi Arabia has reportedly provided billions of dollars to support Sisi.

As part of the deal, Egypt will allow stretches of land in the southern Sinai to be used for NEOM.

The country is also planning to build seven cities and tourism projects with a focus on the Red Sea.

The delegation was led by Mr Nasir Bin Mutlak, the assistant director, Emergency Aid Department of Saudi Arabia, Mr Khalid Bin Abdulraham Al Mani and Mr Muhammed Bin Addidah Al Namla.

Crown Prince Muhammad said: "People in Saudi Arabia have changed a lot because they travel to countries like Britain and see a different way of life".

"I proudly watched a group of creative Egyptian young people performing in the theatre show "Salem Nafsak" (Surrender) at the Cairo Opera House", said President Abdel Fatah al-Sisi.

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Saudi Arabia donates N3.6bn for Northeast

Speaking about choosing Egypt to be Bin Salman's first stop in his first foreign tour, Fahmy said that Egypt is a country with weight, pointing out "it is normal for Cairo to be the first foreign stop for Prince Mohammed Bin Salman".

Ali said Nigeria as a country is grateful to the Kingdom of Saudi Arabia for the opportunity given to her to be part of the alliance established to fight terrorism and maintain global peace and security. The mega-city will be built on a partnership between two of the most powerful Arab countries.

The regulations of the law aim at avoiding bureaucracy and shortening the time required to issue permits.

One of the key aspects to his Vision 2030 is selling a stake in the state-owned oil company Saudi Aramco, which financial experts say could raise around $100 billion for the kingdom.

He said that launching the joint fund will definitely improve the Egyptian economic conditions and boost the government's investment map, which includes 4,136 investment opportunities in eight industrial sectors.

Britain clearly wants to make a success of Prince Mohammed's visit, which can only be good news for the future prospects of his ambitious economic and social reform agenda.

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