Egyptian president receives Saudi Crown Prince during official visit

CAIRO – 15 October 2024: President Abdel Fatah El-Sisi received Tuesday at Cairo International Airport Saudi Crown Prince and Prime Minister Mohamed Bin Salman, and then an official reception was held at Al Itihadiyah Palace where the talks are taking place.

The main focus of the visit is bolstering economic ties as the Crown Prince had announced in September that the Public Investment Fund (PIF) would inject $5 billion in Egypt.

The size of Saudi investments in the country has already amounted to $30 billion, and there are plans to expand them through various projects, including electricity linkage.

According to the Central Bank of Egypt (CBE), Saudi Arabia's long-term deposits recorded $5.3 billion on December 31, 2023.