Egypt, Libya to bolster investments

Egyptian official sources said that Egyptian President Hosni Mubarak and Libyan leader Moammar Gaddafi will discuss the activation of the mechanisms for mutual investment between the two states and means of starting the implementation of 555 projects that are not applied yet.

The coming stage is expected to witness a focus on making use of Libyan investments with a volume of 3.71 billion Egyptian pounds.

Gaddafi met yesterday with Egyptian businessmen to discuss the possibility of establishing a comprehensive Arab bank to finance Arab mutual projects, in addition to forming a group of expert businessmen to examine to a unified financial system.

Gaddafi also met yesterday with Egyptian authors and intellectuals, before which he confirmed that he restored his Arab nationality and identity during his meeting yesterday at El-Fayoum city, south Of Cairo.

Gaddafi called on the Arab states to activate the economic unity agreement ratified in 1957 with all its items and projects.