Egyptian Tourism Federation launches $1bn investment fund
05/06/2014 12:02 pm EDT

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Egypt’s Federation of Chambers of Tourism has announced the launch of a $1bn investment fund, Daily News Egypt has reported. The federation established the fund at a minimum value of $1bn in its first phase, which will increase to $5bn in the coming phases, as a means to rescue troubled hotel projects and tourism companies, said chairman of the federation, Ilhamy Zayat.

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