Egypt sovereign fund, NSPO to seal cooperation deal Monday

CAIRO - 2 February 2020: Egypt's sovereign fund is set to sign on Monday a framework agreement with the National Service Projects Organization (NSPO), a subordinate of the Egyptian Defense Ministry, with the aim to restructure a number of companies.

The deal is meant to restructure a number of NSPO companies to be able to pump investments into them and maximize the value of their assets, said Planning Minister Hala Saeid, who also heads the fund.

This should be done in cooperation with NSPO and the private sector, she added.

Saeid praised the role played by Egypt's sovereign fund to attract investments in line with a sustainable development strategy and Egypt's vision for 2030.