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GCC to establish $100 bn fund to support Egypt's economy
Nesma Abdel Azim Published in Albawaba on 05 - 01 - 2015

The Gulf Cooperation Council (GCC) is studying means to establish a fund estimated at $100 billion to support the Egyptian economy, said Kuwaiti journalist Ahmed Al Jarallah during a TV intervention.
The fund will be announced in the economic conference to be held in Cairo next March, Jarallah added during a phone call from Kuwait on Egyptian TV show "Ala Mas'olity".
Egypt should offer some guarantees to the founders, by issuing laws to cut red tape and strip back bureaucracy, a key feature in most of Egypt's investment laws, editor-in-chief of Kuwaiti newspaper "Al-Seyasa" said.
He added that President Al-Sisi will discuss with Sabah Al-Ahmad, Emir of Kuwait, the Egyptian-Qatari reconciliation file during his visit to Kuwait Monday. Al-Jarallah pointed out that Doha is on track to improve its relationship with Cairo.
Sisi will visit Kuwait Monday to meet with Kuwaiti Emir and officials, accompanied by ministers of Foreign Affairs, Oil, International cooperation and Investment.

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