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Proposed Egyptian fund to start with $655m in capital

CAIRO, June 12, 2015

A proposed Egyptian sovereign investment fund will start with capital of five billion Egyptian pounds ($655 million) beginning from the next fiscal year's 2015/2016 budget, the state news agency cited the planning minister as saying on Friday.

The Egyptian government had on Thursday approved a proposal to set up the "Amlak" fund, which would act as the state's investment arm and aims to encourage diversification and support sustainable economic and social development. - Reuters




Tags: investment | capital | fund | Egyptian |

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