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Suez Canal to establish sovereign wealth fund

The Suez Canal Authority has unveiled a plan to establish a sovereign wealth fund to shield the canal from fluctuations in global trade and crises like COVID-19.
A file picture dated Nov. 24, 2008, shows an Egyptian patrol ship navigating the Suez Canal.

CAIRO — The Suez Canal Authority (SCA), the government body that operates the Suez Canal, plans to establish its own sovereign wealth fund for the first time.

The fund will be established to cushion the canal from possible crises and fluctuations in international trade, SCA officials say.

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