Loan

Egypt to receive first tranche of IMF $5.2B loan during next few days

Mon, 29 Jun 2020 - 03:21 GMT

Abu El Naga clarified that the first tranche worth $2 billion.

EBRD finances NBE with $200M to confront coronavirus ramifications

Mon, 22 Jun 2020 - 04:58 GMT

EBRD will provide a $100 million loan to help NBE provide short-term loans to private small and medium-sized enterprises and firms facing liquidity strains.

AfDB approves €225 million loan to finance Egypt’s Electricity, Green Growth Support Program

Wed, 17 Jun 2020 - 05:37 GMT

The project would help meet the Government’s financing requirements, expand social expenditures to mitigate the socio-economic impact of the pandemic.

Egypt seeks loan of over $1B, taps UAE banks - sources

Tue, 16 Jun 2020 - 02:14 GMT

The coronavirus crisis has battered Egypt’s finances by shutting down tourism, denting remittances from Egyptians working abroad and triggering capital flight.

Egypt’s parliament approves $50M-agreement loan from EBRD

Tue, 16 Jun 2020 - 02:11 GMT

The financing comes for the completion of the project of improving the performance of the oil and gas sector in Egypt.

Republican decree approving Kuwaiti loan to finance tunnel project in Sharm

Thu, 04 Jun 2020 - 09:43 GMT

The decree stipulates amendment of the first loan agreement signed on March 13, 2018 between the Arab Republic of Egypt and Kuwaiti Fund for Arab Economic Development.

Central Bank of Egypt issues loan guarantees worth LE100B for banks to fund investors

Tue, 19 May 2020 - 12:08 GMT

The banks should be encouraged to be part of an initiative offering loans of 8 percent diminishing balance interest rate to private investors in certain sectors.

EgyptAir gets $2B supportive loan to face COVID-19 pandemic

Sun, 17 May 2020 - 11:15 GMT

Ma’it added that the state treasury will bear the loan’s burden until the company achieves operating rates equivalent to 80 percent of the operating volume in 2019.

CBE deputy governor: New IMF loan not to add burdens to people

Thu, 14 May 2020 - 03:58 GMT

He said the economic reform program which Egypt put into effect in 2016 managed to create a strong economy capable of containing crises.

Egypt negotiates on another financial package from IMF

Thu, 14 May 2020 - 09:12 GMT

On the $6 billion financing package expected from the IMF, Deputy Governor of the Central Bank of Egypt (CBE) said that negotiations haven’t ended yet.

Egypt receives $2.7 billion from IMF

Wed, 13 May 2020 - 11:02 GMT

The loan, which will be paid back over a period of five years, comes as part of the the Rapid Financing Instrument (RFI) program.

IMF statement on Egypt's emergency financial assistance approval

Mon, 11 May 2020 - 07:53 GMT

The Executive Board of the International Monetary Fund (IMF) approved Egypt’s request for emergency financial assistance of SDR 2,037.1 million ($2.772 billion)

IMF to mull Egypt's request for loan in May 11 meeting

Thu, 07 May 2020 - 11:52 GMT

In April, Egypt's Prime Minister Moustafa Madbouli asked the IMF for financial support to help the country deal with the new coronavirus outbreak.

Minister reveals status of industrial sector amid COVID-19 crisis

Tue, 28 Apr 2020 - 02:55 GMT

There are negative and positive aspects.

IMF praises Egypt's measures confronting COVID-19, comments on new package request

Mon, 27 Apr 2020 - 12:46 GMT

Georgieva added that the Central Bank of Egypt has also implemented timely measures to support the domestic economy.

Egypt requests new financial package from IMF for 1 year

Sun, 26 Apr 2020 - 03:01 GMT

This package is to enhance the state’s capabilities to face the new COVID-19 virus crisis, in a proactive step based on the successful implementation of the economic reform program.

Debt installments of small businesses in Egypt to be postponed for 3 months

Mon, 30 Mar 2020 - 02:38 GMT

The duration can be prolonged, if needed.

EBRD finances Almarai’s operation in Egypt, Jordan by $100M

Wed, 19 Feb 2020 - 02:12 GMT

EBRD clarified that the loan will allow Almarai’s subsidiary in Egypt, Beyti, to fund additional dairy and juice production.

Grace period for investors to pay back extended: CBE deputy governor

Mon, 10 Feb 2020 - 01:52 GMT

Deputy Governor of the Central Bank of Egypt Gamal Nagm declared that the board issued a decree on Sunday extending the grace period of stumbling factories.

Trump calls for World Bank to stop loaning to China

Sat, 07 Dec 2019 - 10:25 GMT

One day after the institution adopted a lending plan to Beijing over Washington's objections, The New York Times reported.

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