Foreign Investment
This funding is part of a broader €5 billion support package from the EU, with €1 billion already received by the Egyptian government in December.
The funding, part of the EU’s Macro-Financial Assistance (MFA) program, follows the European Commission’s decision in December to release the loan after Egypt met specific policy conditions.
This growth highlights Egypt's growing attractiveness to international investors. The country drew in $46.1 billion in FDI, a dramatic leap from just $4.2 billion in FY2013/2014, marking nearly an 11-fold increase
The agreement, valued at $131 million, aims to bolster Egypt's economic diversification efforts and improve the business environment
Minister of Electricity and Renewable Energy, Mahmoud Esmat, met with Peter Mollema, Ambassador of the Kingdom of the Netherlands in Cairo, to explore opportunities for deepening cooperation in various sectors, particularly green hydrogen and renewable energy projects.
El-Din underlined that the facility's production of flat and photovoltaic glass, which is used in solar panel manufacturing, will support the growth of renewable energy industries.
Al-Mashat noted the historical significance of Egypt's partnership with the AfDB, pointing out that the country is a founding member and contributed approximately 12.5 percent of the bank's initial capital.
With French investments in Egypt totaling €7 billion across 180 projects, France is recognized as one of Egypt's largest investors, explained El Khatib. contributing to approximately 50,000 jobs in various sectors, including manufacturing and telecommunications
During a recent visit to London, Finance Minister Ahmed Kouchok addressed over 200 investors from major financial institutions and investment banks across several meetings, presenting a comprehensive strategy aimed at stabilizing and transforming the nation's economy
Madbouly, who is attending the China-Africa Cooperation Forum (FOCAC), met with Zhao on Wednesday, praising China for its achievements in construction and urban development, positioning it as a vital ally in addressing global challenges
Egypt’s government continues to intensify efforts to enhance its business climate to further attract foreign direct investments and stimulate private sector investments, as outlined in its State Ownership Policy Document
The agreements, between the Sovereign Fund of Egypt (TSFE) and European developers, aim to bolster Egypt's renewable energy infrastructure, explained a cabinet statement on Sunday
On the sidelines of day two of the Egypt-EU investment conference, PM Madbouly underscored Egypt's commitment to economic reform and its impact on fostering a conducive investment climate, citing achievements such as stabilizing the foreign exchange rate and supporting the private sector
In an official statement from the MoIC, Quaroni shared that the Italian government is taking a keen interest in supporting the sectors targeted by Egypt’s Nexus of Water, Food and Energy (NWFE) Program
The IMF team has been in the Egyptian capital for the past two days to assess the country's progress under the loan agreement, the officials stated. The third review is expected to be completed on or after June 15, 2024, with the fourth review slated for on or after September 15
According to the ministry, $28.5 billion was allocated to various sectors while $10.3 billion has been channeled into the private sector, particularly focusing on initiatives related to climate action, development, and empowering the private sector
Reportedly received by Egypt on Sunday, the tranche consisted of $14 billion and $6 billion currently held from a previous deposit by the UAE at the Central Bank of Egypt (CBE)
Goldman Sachs estimated that Egypt will require significantly less financing through borrowing for the second quarter of 2024, attributing the reduced need to the substantial financing it secured during Q1 2024 and the Ras El Hekma investment deal
Minister of MoIC, Rania Al-Mashat, recently met with Italian Deputy Minister of Foreign Affairs and International Cooperation, Edmondo Cirelli, to discuss bilateral cooperation programs and debt swap arrangements
Minister of MoIC, Rania Al-Mashat, recently met with Italian Deputy Minister of Foreign Affairs and International Cooperation, Edmondo Cirelli, to discuss bilateral cooperation programs and debt swap arrangements
