Total value of pacts signed with Saudi Arabia reached $25 billion

The total value of agreements signed during the visit of Saudi King Salman bin Abdulaziz al Saud to Egypt reached about 25 billion dollars, announced International Cooperation Minister Sahar Nasr. 

In statements Sunday, the minister said that agreements and memorandums of understanding to finance new projects as part of the Sinai Development Project were signed yesterday in the presence of President Abdel Fattah El Sisi and the Saudi King. 

The minister also said that she signed with Saudi deputy crown prince Mohammed bin Salman a memorandum of understanding, which aims to establish a free economic zone in Sinai Pensuila.

The minister further said that 10 agreements, worth 1.130 billion dollars, were signed with Saudi Finance Minister and Head of the Saudi development fund Ibrahim al Assaf.