By: Waleed Abdul Salam

Cairo – Mubasher: Papyrus tourism fund is expected to be established during June 2016, Al Ahli Development and Investment Company’s Investment Manager, Hussam Heiba, told Mubasher on Monday.

The fund, established by Ayyady for Investment and Development, is aiming at supporting the tourism sector with investments worth $250 million.

“The procedures of establishing the fund are nearing completion… EGP 50 million were deposited for the creation,” Heiba added.

Heiba explained that his company, in cooperation with Cairo Financial Investments, is responsible for managing the fund.

Translated by: Elwy el-Manzalawy