Turkey Allocates $2 bln Financial Package For Egyptian Economy

Turkish Deputy Prime Minister Ali Babacan and Essam Al-Haddad, Deputy President of Egypt for External Relations and International Cooperation held a high-ranking meeting in Istanbul on Saturday night.
Both Turkish and Egyptian sides discussed the latest developments in the two countries, the cooperation fields and the commercial relations, in addition to the investment opportunities.
Turkey and Egypt agreed on a financial package of $2 billion that would be provided by Turkey to assist the Egyptian economy, the foreign cash reserves, and the plans of the Egyptian government in the sector of infrastructure investments; consequently to help the stability of the micro-economies.
Both of the finance minister, Momtaz al-Saeed- the minister of planning and international cooperation, Ashraf Al Arabi, participated in the meeting, in the presence of the Egyptian ambassador to Turkey, Abdel Rahman Salah, and a number of experts and Egyptian and Turkish economic officials.