Egypt, Qatar Sign Contract For 2nd Deposit Tranche Worth $500 Mln

The Minister of Finance Momtaz El-Saeed announced finalizing the executive procedures for the $ 500 million second tranche of the Qatari deposit reaching $2 billion. He added that the executive contract was signed by Egypt’s Ministry of Finance (MOF) and Qatar Central Bank (QCB).

The deposit’s first tranche amounting to $500 million had been received last August from Qatar to the Central Bank of Egypt (CBE).

Meanwhile, CBE’s report showed that net foreign assets fell by EGP 1.5 billion, or 1% last July.

Mubasher