The new financing aims to protect macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks, strengthen its social safety net, and intensify reforms that support private sector-led growth and job creation.
Maait added that the government is also exploring financing options that include affordable loans from China and Japan.
The cabinet also approved in its weekly meeting a draft presidential decree regarding the exchange of letters between the Arab Republic of Egypt and the Government of the Kingdom of Spain, regarding a grant to finance a project to strengthen the capabilities of the Women’s Complaints Office.
The contract value is $656 million and includes two years warranty, in addition to maintenance work for a period of eight years in addition to a massive one-time overhaul for each train.
Worth $500 million, the deal is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy in the face of repercussions of the war currently going on in Europe.
Egyptian Parliament approved Thursday three agreements that support health insurance system in the country, and Upper Egypt's development.
The signing of this agreement comes as a culmination of the meetings held between the two brotherly countries to expedite the completion of procedures related to investment in Egypt through the Saudi Public Investment Fund.
Borisenko noted that there are different levels of cooperation in these areas.
The agreement was inked with HSBC, UBS Group AG and Credit Suisse.
As per the new MoU, both sides would use an existing pipeline to transport hydrogen in the future.
This comes within the framework of the constant development of the joint economic relations between Egypt and China, as well as the strategic development cooperation relations
Molla added during the Egyptian Petroleum Association seminar that 384 wells were drilled, and more than 85 percent of the foreign partners' accrued dues from 2011 to June 2013 were paid.
The company said in a statement to the Egyptian Stock Exchange, Wednesday, that the fund manages $ 3.4 billion, is headquartered in Luxembourg, and has offices in France, New York and the Bahamas.
The contract is for a 10 year-period, and the total expected revenue for the contract period is 2.5 million dinars ($ 8.3 million).
The agreement signed in December 2020 includes resuming production at Damietta's natural gas liquefaction plant, and increasing EGAS' capacity to liquefy the plant.
The SPA worth $646 million with additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.
Rabie said that the agreement is a basic step to start the measures to establish the anticipated partnership between both sides after ending the economic fiscal studies and all the studies necessary for the project.
The agreement was signed by Chief Representative of JICA’s Egypt Office Omura Yoshifumi, and Vice Minister of Finance for Fiscal Policies and Institutional Reform Ahmed Kojak on behalf of the Minister of Finance, Mohamed Maait.
The agreement stipulates the allocation of a grant in the amount of €1 million to provide advisory services for launching a project for the construction of the dry port and logistical center in the tenth of Ramadan city
The deal is part of greater efforts aimed to help Egyptian private companies to deal with the negative impacts of the COVID-19 pandemic, giving attention to creating equal opportunities for women at work.