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Legal framework ready for Egypt's investment fund
Alaa Awad Published in Albawaba on 14 - 06 - 2015

Egypt's planning minister, Ashraf Araby said on Sunday the legal framework for a proposed 5 billion Egyptian pound ($655 million) sovereign investment fund would be completed within four months, state-run MENA news agency reported.
On Thursday, the government approved a proposal to set up the "Amlak" fund, which is intended to encourage diversification and to support sustainable economic and social development, MENA added.
The fund's board of trustees will be headed by Egypt's PM and will be managed by investment banks in order to attract private sector investors to the projects it will fund, Al-Arabi said.

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