International Cooperation Minister Sahar Nasr thanked Saudi Arabia on behalf of Egypt, its people and government for the ongoing support to the country.

Saudi Arabia has decided recently to increase the volume of investments in Egypt to 30 billion riyals besides giving 2 billions dollars as donations to develop Sinai and provide the country with petroleum aid for five years.

During the second meeting of the Egyptian-Saudi Coordination Council in Cairo in December, Saudi Deputy Crown Prince Mohammed bin Salman revealed the directives given by King Salman bin Abdel Aziz al Saud to increase the investment volume with Egypt to 30 billion riyals.

Nasr told MENA that she met with representatives of the Public Investment Fund and the Saudi Fund for Development.

During her meeting with the representatives of the Public Investment Fund, Nasr tackled investments in the domains of housing, tourism and oil sectors.

She further said that, during her meeting with the representatives of Saudi Fund for Development, the two sides discussed developing Sinai.

She reiterated that inking a number of agreements will take place on Tuesday, noting that there is a project for youth with a donation estimated at 200 million dollars.