UAE’s Khalifa Fund directs 60% of Egypt investments to rural areas

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Abu Dhabi’s Khalifa Fund for Enterprise Development says 60 percent of its investments in Egypt are dedicated for development projects in rural cities and Upper Egyptian cities.

Hussain Al Nowais – Managing Director of Khalifa Fund – further said on Wednesday that he expects a leap in size of the fund’s investments in Egypt in the coming period.

The Egyptian Social Fund for Development (SFD) is Khalifa Fund’s strategic partner which helps the Emirati fund pump investments in the North African country, Al Nowais added.

Through the SFD, Khalifa Fund pumps investments worth up to $200 million within a five-year financing scheme, he stated.