Egyptian President Abdel Fattah El-Sisi stated today, Wednesday, that part of the funds announced in the agreement signed between Egypt and the UAE regarding the development project in Ras Al-Hikma has arrived at the Central Bank. During his speech at the "Capable with Differences" celebration, the Egyptian president said, "The project is considered the largest tourism project on the Mediterranean, and Ras Al-Hikma will be an international city operating year-round, not just in the summer months, with activities that will be introduced in Egypt for the first time."
El-Sisi continued, "The figures announced regarding the value of the Ras Al-Hikma deal, part of it reached us yesterday and entered the Central Bank." He added, "We are always transparent and honest in presenting the topic without hiding anything... Dr. Mostafa Madbouly discussed the topic and explained it... It is not appropriate to deceive you... He talked about the nature of the partnership and the form of the project we are discussing, including its area and the procedures that will take place over the coming months and years."
The Egyptian president emphasized during his speech at the ceremony, "We are talking about the largest tourism project on the Mediterranean... This has been said, and I confirm it... It is time for God to assist us and our brothers in the UAE… We are talking about a city with continuous life and ongoing activities throughout the year." Egypt and the UAE signed a strategic partnership agreement worth $35 billion to develop the coastal peninsula.
