Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman has met with Egyptian president Abdelfattah al-Sisi in Cairo, calling for regional de-escalation as Egypt prepares for a fresh $5 billion in Saudi investments, AFP reports.

The pair reiterated calls for de-escalation and ceasefires in both the Gaza Strip and Lebanon, warning that “attempts to liquidate the Palestinian cause intend to perpetuate conflict in the region”, Sisi’s office said.

They also witnessed the formation of a high-level Saudi-Egyptian coordination council and the “signing of an agreement to encourage and protect mutual investments”, after months of Egyptian attempts to draw Saudi investors in.

The official Saudi Press Agency reported that Prince Mohammed and Sisi discussed “the security and stability of the region”.

It also said Prince Mohammed was travelling from Egypt to Brussels to attend a summit on Wednesday for European Union and Gulf leaders.