Egypt’s Prime Minister Sherif Ismail will meet investors and Saudi officials by mid-December to lure more investment into the most populous Arab country as the government looks to boost the economy, reeling with foreign currency crisis, according to news agency Reuters.

Saudi Deputy Crown Prince and Defence Minister Mohamed bin Salman al-Saud will visit Cairo as the head of a Saudi delegation this week. The delegation will discuss a number of projects including plans for a hydroelectric plant in Assiut and development of the Red Sea resort of Sharm al-Sheikh, according to an Egyptian government statement, cited by Reuters.

The talks follow Egyptian premier’s visit to Saudi Arabia, the biggest economy in the Arab region. Ismail led a delegation of Egyptian ministers to present potential projects and progress the investment pledges made at an international investment conference in March.

Egypt attracted $12bn in pledges from Gulf countries at the conference, where President Abdel Fattah al-Sisi urged foreign investors to help Egypt recover from the turmoil after the 2011 uprising. About $6bn was deposited in Egypt’s central bank to help replenish its dwindling foreign currency reserves. The rest was to come as investments, many of which are still being negotiated.

Egyptian delegation earlier this month presented development projects in Saudi Arabia, mainly in partnership with the Saudi Fund for Development, Reuters quoted International Cooperation Minister Sahar Nasr as saying. The Saudi delegation will move the discussion to next level, she said in an interview with the new agency.

Gulf states have handed out billions of dollars to Egypt since mid-2013, when al-Sisi removed the Muslim Brotherhood government from power. Declining oil prices have put question marks on further Gulf support but the Egyptian officials have denied speculation that Gulf support has slowed down.