‘Friends of Egypt’ Conference Seen Launch early 2015 – Official

An international conference to help Egypt through its economic troubles is expected to begin by early 2015, said Egyptian Planning Minister Ashraf al-Araby, who preferred to name the event ‘Friends of Egypt’ instead of the ‘donors’.

After former army chief Abdel Fattah al-Sisi won Egyptian presidential election, Saudi Arabia’s King Abdullah called for an international effort to raise funds for Egypt’s battered economy through holding an international aid conference.

The conference is expected to lure more Arab Gulf investments in Egypt.

The conference is expected to lure more Gulf businessmen and financial institutions to pump new investments in Egypt.

In this respect, al-Araby stated that the government is planning to organise the event before the end of the current year or by early 2015 at maximum, seeking to prepare a package of new development and investment projects to be offered during the conference.

Saudi Arabia and the U.A.E. have led efforts among oil-rich Gulf nations to bolster Egypt’s economy.