Contributions to Egypt achieve USD 72.5 bln – PM Mahlab

Countries, Arab and international institutions participating in Egypt Economic Development Conference (EEDC) have contributed USD 72.5 billion to revive the Egyptian economy, Prime Minister Ibrahim Mahlab said Sunday.

Mahlab, in a speech concluding the three-day EEDC, noted that collective contributions of kuwait, Saudi Arabia, the United Arab Emirates (UAE) and Oman were USD 12.5 billion.

Total value of direct investment contracts was USD 36.2 billion in addition to USD 18.6 billion to be paid for projects underconstruction, he said.

Mahlab said tally of loans from funds and international institutions amounted to USD 5.2 billion.

The prime minister commended the attendance of His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, as well as thanking Saudi Arabia, the UAE and Oman for their support of Egypt.

“The stability of Egypt is linked to stability of Egypt, and the success of the economic conference is an evidence that Egypt is on the right path,” said Mahlab.

The prime minister said he assigned the ministers to form work groups with a mandate of following up the results of the EEDC.

Source: Kuwait News Agency (KUNA)