Saudi Arabian Crown Prince Mohammed bin Salman is visiting Cairo, Egypt on an official visit.
He is expected to hold talks with President Abdel Fattah al-Sisi on efforts to de-escalate the situation in Lebanon and Gaza.
The visit comes amid rumours about future Saudi investments in Egypt, which has received a significant amount of external finance this year, including a record $35 billion agreement with the UAE sovereign fund ADQ.
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The crown prince, also known as MbS, made his final official visit to Egypt in 2022.
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Saudi Arabia, which has previously provided financial backing to Sisi’s Egypt, later stated that it will shift its focus to investing rather than offering direct aid to allies.
Egypt’s government dollar bonds surged by early afternoon on Tuesday, with longer-dated maturities leading the way.
Last month, Egypt’s prime minister stated that Saudi Arabia intended to spend $5 billion in Egypt, irrespective of funds deposited…