March 13, 2015 / 3:22 PM / 5 years ago

Saudi Arabia, Kuwait, UAE pledge $4 billion each at Egypt conference

SHARM EL SHEIKH, Egypt (Reuters) - Saudi Arabia, Kuwait and the United Arab Emirates each pledged $4 billion of investments in Egypt, officials from the Gulf countries said at an economic summit in the Red Sea resort town of Sharm el-Sheikh.

The UAE said it would deposit $2 billion in Egypt’s central bank and the other $2 billion in the economy. Saudi Arabia said $1 billion of its pledge would go to the bank while Kuwait’s representative did not say how his country’s pledge would be divided.

Reporting By Stephen Kalin; Editing by Andrew Heavens

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