finance
Kouchouk highlighted three core priorities for the upcoming period - enhancing economic stability, supporting the private sector, and reducing government debt
A total of 49% of all financing for all medium, small and micro projects goes to women, 49% to Upper Egypt, and 48% to people 40 years old and younger.
President El-Sisi placed high priority on continuing intensive efforts to curb inflation, through integrated and consistent programs and policies.
Minister Kouchouk added that the challenges are due to the high cost of financing and the decline in foreign direct investment flows directed to emerging countries.
The upgraded classification, facilitated by the International Finance Corporation (IFC)-led SBFN, is a testament to the Central Bank of Egypt's (CBE)
The move reflects the State's commitment to supporting low-and middle-income families, especially in light of the ongoing economic reforms made by the State, Maait added in a statement released on Thursday.
This came at the first follow-up report of the NWFE program, launched by the Ministry of International Cooperation, on the occasion of the one-year anniversary of the launch of the NWFE program, the link between water, food and energy projects.
During the meetings, Egyptian Minister of Finance Mohamed Maait said that Egypt's hosting of the conference "reflects the country's role regionally and internationally."
Those are located across seven governorates.
“New Urban Communities Authority assumes this responsibility, and new cities, such as New Alamein and the New Administrative Capital, are built in a self-development manner, and therefore they are far from the state's general budget,” he added.
That is compared to LE63.1 billion in the same period last year.
Finance Minister Mohamed Maait said soft climate financing can be a new developmental locomotive for emerging economies.
The Medium, Small, and Micro Enterprises Committee in the Egyptian House of Representatives recommended preparing a proposal to amend the Small Projects Law to ensure incentives for women.
Hussein added in a statement on Monday, said that these projects provided 3,609 job opportunities.
The bill also indicated the sources of funding.
The AfDB's vice-president, Kevin Urama, stated in July that Africa was losing 5 percent to 15 percent of GDP per capita due to climate change.
Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), said that the IMF staff and the Egyptian authorities “have held very productive in-person discussions on the margins of the IMF and World Bank Annual Meetings and made substantial progress on all policies.
He also referred to the importance of promoting blended finance through public and private sectors, as well as strengthening the role of non-state actors.
That is within the government's bid to expand the social safety network among irregular workers.
The FY 2021-22 financial performance indices have proven that Egypt has showed resilience against the global economic changes and crises, as it managed to achieve positive results, especially after being among a limited number of countries, which succeeded in achieving a primary surplus of 1.3 percent of GDP, compared to primary deficits seen by other countries.
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