CAIRO: President Abdel Fatah al Sisi and visiting Saudi King Salman bin Abdel Aziz attended the signing of 16 agreements and memoranda of understanding Friday.
The agreements were signed at the Ittihadya presidential palace in presence of members of ministerial delegations of the two countries and members of the Egyptian-Saudi coordinating council.
The agreements include a soft loan worth $20 billion to provide Egypt with petroleum needs over the next five years in addition to $1.5 billion deal for development projects in Egypt’s restive Sinai Peninsula.
The two sides also witnessed the inking of an agreement in the peaceful use of nuclear power, another agreement to establish King Salman University in Sinai’s city of Al Tor and another agreement to build a power station west of Cairo.
Salman arrived in Cairo Thursday for a five-day visit, which is the first of its kind since he took power in Jan. 2015. The monarch is scheduled to meet with Pope Tawadros II of Alexandria and Patriarch of Saint Mark Diocese and parliament speaker Ali Abdel Aal among others.