Investment Fund
Currently, Adeer is in discussions with the Financial Regulatory Authority and the Egyptian Exchange (EGX) to address necessary legislative amendments to facilitate the establishment of real estate funds in the country, he added.
The amendments include transferring the Fund’s affiliation to the Cabinet.
Abdelatty explained that the fund will rely on three sources of funding: the Egyptian state budget, partnerships with the Egyptian private sector, and collaborations with Nile Basin countries and other African partners, including regional and international organizations. He emphasized that Egypt hopes these partners will direct a portion of their investment commitments in Africa through this fund.
They directed all competent authorities to discuss investment opportunities between the two countries in various fields, including energy, renewable energy, industry, health and pharmaceutical industries.
Osama Rabie said in a TV interview on Tuesday night, that the investment fund will start its work early next month.
Egyptian financial services group Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September.
