The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm El Sheikh, Egypt. On March 13, 2015, over 2,000 delegates from 112 countries arrived in Egypt to attend the conference.
On the first day, a proposal for a new Egyptian capital city was announced. Kuwait, Saudi Arabia and United Arab Emirates pledged $4 billion each; whilst Oman announced it would provide $500 million. BG Group and BP both made a commitment to invest $4 billion and $12 billion respectively.
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