Arab Finance: The UAE has assigned international consultancy agencies to prepare schemes for Ras El-Hekma city development after delivering the $10 billion of the first tranche of the agreed-upon funds to Egypt, Egyptian Prime Minister Mostafa Madbouly stated.
The announcement came on the sidelines of a meeting between Madbouly and the Emirati Minister of Investment Mohammed Al-Suwaidi to follow up on the executive procedures of Ras El-Hekma project.
On March 1st, Egypt received an additional $5 billion from Abu Dhabi Developmental Holding (ADQ) for the development of Ras El-Hekma project, after receiving the first $5 billion of the $35 billion agreed upon.
