Zazou: Egypt May Sign Co-op Protocol With Saudi Islamic Bank

Egyptian Minister of Tourism Hesham Zazou said that the Islamic Development Bank (IDB) in Saudi Arabia showed its willingness to finance the Egyptian hotels in order to convert into the green energy.

The IDB’s officials will allocate lines of credit worth$50-100 million once signing the agreement between the Egyptian Minister and the IDB.

A delegation from the Islamic Development Bank will visit Cairo within days to conduct negotiations on the protocol.