Egyptian President Abdel Fattah El-Sisi announces receiving part of the proceeds from the Ras al-Hikma deal. The project is expected to generate $35 billion within two months, including $24 billion in direct liquidity, and $11 billion in Emirati deposits.
The UAE expects to invest at least $150 billion throughout the duration of the project’s implementation, with Egypt receiving 35% of the profits. This comes amid confusion in the scene of the dollar exchange rate in the parallel market that has flourished during the recent period.