Kuwait Weighs Plan for Additional $4 Billion Investment in Egypt

Kuwait is in advanced discussions to convert $4 billion of deposits held in Egypt’s central bank into investments in the country, another boost for the Middle East’s most populous nation as it rebounds from the worst economic crisis in decades.

Both sides have agreed in principle to the conversion and Kuwait may invest at least half the amount by the end of this year, spread across several sectors and assets, people familiar with the matter said, asking not to be identified by name because of the sensitivity of the matter. No final decision has been taken on specific targets, they said.