Kuwaiti Minister of Finance Anas Khalid Al-Saleh said that he received orders from the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, to immediately begin depositing $2bn at the Central Bank of Egypt (CBE).

On the first day of the Economic Summit in Sharm El-Sheikh, the Emir announced that Kuwait will provide an aid package of $4bn, with $2bn of them being deposited in the CBE, and the remaining $2bn allocated for financing development projects.

“Egypt needs investments during this phase, which is what Kuwaiti businessmen are trying to provide,” said Al-Saleh, adding that the Egyptian government has made many efforts to resolve all problems that face investors.

He stated that Egypt is currently working on creating a climate that attracts investments through the approval of the new investment law which guarantees protection, facilities and incentives for serious investors.