Saudi Arabia, Kuwait and the United Arab Emirates each pledged $4 billion of investments in Egypt, officials from the Gulf countries said at an economic summit in the Red Sea resort town of Sharm el-Sheikh.
The UAE said it would deposit $2 billion in Egypt’s central bank and the other $2 billion in the economy. Saudi Arabia said $1 billion of its pledge would go to the bank while Kuwait’s representative did not say how his country’s pledge would be divided.
