The king of Saudi Arabia, Selman bin Abdulaziz Al Suud, instructed investors in Egypt to increase their projected investment totals to $8 billion to help cover the five-year oil expenses of the country during a meeting of the Saudi Arabia-Egypt Coordination Council. According to the official news agency of Saudi Arabia, SPA, the Egyptian prime minister, Sherif Ismail Mohamed, and Saudi Arabia's defense minister attended the Saudi Arabia-Egypt Coordination Council meeting which was presided over by Deputy Crown Prince Mohammed bin Selman bin Abdulaziz. Furthermore, the SPA noted that King Selman asked that more support be provided for the Suez Canal; however, questions as to how Egypt will meet the oil demands of Saudi Arabia with its current investment volume - and how Saudi Arabia will contribute to transportation projects in the Suez Canal - were not answered.

At a press conference held after the meeting, the Egyptian prime minister noted that officials reached a consensus on various projects during the second coordination meeting. The agreements, which included the procurement of energy materials, were reached after amicable and friendly discussions.

Egyptian President Abdel-Fattah el-Sissi welcomed Prince Abdulaziz to Ittihadiya Palace on Tuesday. Both Saudi Arabia and Egypt decided to establish a coordination council on Nov. 11, and the first meeting was held on Dec. 2 with the attendance of Abdulaziz and Sherif Ismail.