Arab Fund postpones Egypt's payback for 1 year because of COVID-19

Wed, 14 Oct 2020 - 08:02 GMT

The Cabinet ratified on Wednesday the initiative of the Arab Fund for Economic and Social Development (AFESD) to push back the due dates of loan installments and interests.

15-member board of directors formed to lead fund supporting people with disabilities

Wed, 07 Oct 2020 - 01:11 GMT

A 15-member board of directors has been formed for a fund supporting people with disabilities, according to the Wednesday issue of the National Gazette.

Egypt's Finance Min. reviews details of consumption guarantee, stimulus fund

Tue, 14 Jul 2020 - 02:14 GMT

Ma’it said that the fund will be launched with a capital of LE 2 billion, and it will have multiple goals.

Finance minister says fund to encourage consumption to be launched soon

Sun, 12 Jul 2020 - 04:19 GMT

The fund-to-be aims to increase consumer capabilities among citizens, he said during the inauguration of a number of national projects earlier today.

Statement of Int'l Coop. Ministry on World Bank's $400M fund to Egypt

Wed, 17 Jun 2020 - 03:25 GMT

Minister of International Cooperation announced Wednesday the approval of the World Bank's Board of Executive Directors to provide Egypt with $400 million.

World Bank offers Egypt $400M to fund new health insurance system

Wed, 17 Jun 2020 - 02:25 GMT

This is part of the emergency response project to address coronavirus pandemic; to support the Egyptian government’s efforts to implement the universal health insurance system.

What to know about aspired Endowments Fund in Egypt

Sun, 14 Jun 2020 - 03:14 GMT

The Cabinet submitted to the House of Representatives a draft bill on the establishment of the Endowments Fund.

Egypt's Samih Sawiris applauds draft law merging tourism, antiquities funds

Mon, 08 Jun 2020 - 06:43 GMT

Business tycoon Samih Sawiris has praised the draft law on merging the funds for the sectors of tourism and antiquities, saying it would support the financial resources of the merged fund.

Central Bank of Egypt issues loan guarantees worth LE100B for banks to fund investors

Tue, 19 May 2020 - 12:08 GMT

The banks should be encouraged to be part of an initiative offering loans of 8 percent diminishing balance interest rate to private investors in certain sectors.

6 measures to help recovered from addiction in Egypt amid COVID-19 outbreak

Thu, 30 Apr 2020 - 03:35 GMT

The Addiction Treatment & Abuse Fund led by Minister of Social Solidarity Nevine al-Kabbaj applies six measures to support addiction recoverees and reduce relapse amid coronavirus pandemic.

IMF to exempt 25 poor countries from debt service payments

Wed, 15 Apr 2020 - 07:22 GMT

These countries are most vulnerable to debt and come under the IMF’s revised Catastrophe Containment and Relief Trust. The IMF’s relief package is a response to help poor countries on the back of the Covid-19 pandemic.

Egypt didn’t apply for funding to face COVID-19 pandemic: IMF

Wed, 15 Apr 2020 - 05:03 GMT

The success of the Egyptian state in its economic reform program, which started in 2016, enabled it the country withstand external pressures.

IFC invests $20M in fund focuses on Egypt, North Africa

Mon, 13 Apr 2020 - 01:07 GMT

the Fund, SPE AIF I is managed by SPE Capital Partners and will focus mainly on Egypt, Morocco and Tunisia.

WB offers Egypt $500M to provide housing units for low income

Sun, 22 Mar 2020 - 06:14 GMT

The fund also targets to strengthen the capacity of the Social Housing Fund and support real estate finance in designing policies and coordinating programs in the social housing sector.

Sisi approves €53.2M financing agreement bet. Egypt, IFAD

Sun, 15 Mar 2020 - 11:46 GMT

The Fund provides to Egypt, pursuant to this agreement, a loan amounting to €53.2 million, and a grant of €860,000 euros.

EBRD finances hospitals program in Egypt, Morocco by $125M

Tue, 18 Feb 2020 - 01:38 GMT

EBRD commented that it is supporting the development of high-quality hospitals in Egypt and Morocco.

Cabinet agrees on establishing 'Research Endowment Fund'

Tue, 10 Dec 2019 - 12:28 GMT

Meeting under Prime Minister Mostafa Madbouly, the Cabinet approved on Tuesday a draft presidential decree on establishing a Research Endowment Fund.

$690K deal to fund feasibility study of 'polyacetal' production project: Molla

Tue, 10 Dec 2019 - 11:55 GMT

The grant deal was signed by USTDA’s Acting Deputy Director Todd Abrajano and Echem’s Chairman Saad Helal.

EBRD funds Suez Oil Processing Company by $50M loan

Sat, 23 Nov 2019 - 01:57 GMT

EBRD added in a statement that this loan came to support the modernisation of Egypt’s oil industry by upgrading the oil refinery owned by SOPEC.