The United Arab Emirates and Egypt agreed on Thursday November 14th on a $20 billion joint strategic investment platform for economic and social projects, said Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, al-Arabiya reported.
"Together with my brother, President Abdel Fattah El Sisi we have launched a joint strategic investment platform between the UAE and Egypt worth $20 billion to implement vital economic and social projects for our brotherly countries," Sheikh Mohamed said on Twitter.
Sheikh Mohamed received El Sisi on Thursday. The Egyptian president is currently on an official state visit to the UAE.
A state reception in his honour at Qasr Al Watan in the capital featured an aerial display of the Egyptian flag over palace skies by the National Aerobatic Team, with folklore performances, according to the Emirates news agency WAM.
Sheikh Mohamed said discussions with El Sisi focused on bilateral relations between the two countries. "We discussed ways to strengthen our brotherly relations in various fields and enhance co-ordination on all regional and international events, as well as issues of mutual interest," Sheikh Mohamed said.
El Sisi received the Order of Zayed, the UAE's highest civilian honour from Sheikh Mohamed at Qasr Al Watan. He expressed his gratitude to the Abu Dhabi Crown Prince and the UAE president for awarding him the Order of Zayed.
Arriving at the palace just after midday, El Sisi was accompanied by a high-level delegation including Sameh Shoukry, Minister of Foreign Affairs, Major General Abbas Kamel, chief of Egyptian General Intelligence and Sharif Al Badawi, Egyptian Ambassador to UAE.