MBS visit to Cairo brings $10B in new Saudi investments

Egypt and Saudi Arabia have reached a preliminary agreement to inject over $10 billion in new Saudi investments and renew the Kingdom’s $5.3 billion deposit at the Central Bank, a senior Ministry of Finance source told Al Manassa.

The deal provides crucial hard-currency support for Cairo ahead of key debt maturities, reinforcing financial ties between the two nations as Egypt navigates foreign reserve pressures and regional economic headwinds.

The agreement followed talks in Cairo on Tuesday between President Abdel Fattah El-Sisi and Saudi Crown Prince and Prime Minister Mohammed bin Salman, which included bilateral discussions and an expanded meeting of senior officials.

The preliminary approval for the $5.3 billion deposit rollover addresses a critical financial obligation that was originally due for repayment at the beginning of October.

The new $10 billion investment package will target renewable energy, petroleum, logistics, food security, tourism, infrastructure, and real estate development, according to the Finance Ministry official.

The fresh investments are separate from existing Saudi central bank deposits, with bilateral coordination on the specific funding package scheduled to begin next month.

Under the agreed framework, the Saudi private sector will participate directly, with meetings planned between Saudi business representatives and Egyptian officials to identify opportunities and streamline regulatory hurdles.

Initial projects in real estate, tourism, clean energy, logistics, and port security could launch before the end of the year, the source added.

The two leaderships also agreed to expand bilateral trade by at least 20% in 2027 compared to average trade volumes recorded over the current and previous two years.

In March 2022, Saudi Arabia deposited $5 billion with the Central Bank of Egypt, which raised its total deposits to $10.3 billion, divided between $5 billion in short-term deposits and $5.3 billion in medium- and long-term deposits maturing in October.

Saudi investments in Egypt over the past four years, from 2022 through 2025, reached approximately $4.2 billion, according to Bloomberg.