Nasr: Gov't to upgrade EGX to contribute to Egypt's financing needs

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Mon, 27 Nov 2017 - 01:04 GMT

File - Minister of Investment and International Cooperation Sahar Nasr

File - Minister of Investment and International Cooperation Sahar Nasr

CAIRO – 27 November 2017: Investment and International Cooperation Minister Sahar Nasr said that the government seeks to upgrade the Egyptian Exchange (EGX), the third among the best bourses in the Middle East and North Africa, to help cater for the financing needs of the real economy.

This came at a roundtable on Egypt's capital market held by the International Finance Corporation (IFC) in Cairo to discuss developing the capital market, attracting investments and promoting economic growth.

The IFC is a member of the World Bank Group which launches an initiative "From Disclosure to Development: Harnessing the Power of Data to Reinforce Extractive Industries Contributions to Sustainable Development". It focuses on enhancing the efficiency and benefits of data disclosures from government and industry in support of achieving clear development outcomes from extractives investments.

There is growing momentum for initiatives that encourage "open governance" (transparency, accountability and participation) to combat corruption and deliver sustainable and inclusive growth, said EGX Chairman Mohammed Farid.

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