Egypt to raise ticket price of trains, metro by 25% in August 2022 to pay back debts

Tue, 02 Aug 2022 - 02:31 GMT

Minister of Transport Kamel al-Wazir stated Monday that the ticket price of trains and metro will be raised by 25 percent by the end of August.

World Bank approves $500M in development financing for Egypt to support food security efforts

Wed, 29 Jun 2022 - 01:55 GMT

The Emergency Food Security and Resilience Support Project will help cushion the impact of the war in Ukraine on food and nutrition security in Egypt.

Egyptian municipal authorities help create 123K job opportunities in rural villages

Wed, 06 Apr 2022 - 11:32 GMT

A press statement issued by the Ministry of Local Development on Wednesday indicated the top five governorates that received funds through the programme.

Banque du Caire receives a $30M subsidy loan from Green Fund for Development

Thu, 17 Feb 2022 - 02:16 GMT

The loan aims to strengthen the capital base and enhance the bank's ability to finance its clients, as Banque du Caire is a strategic partner of the Fund as one of the largest banks operating in the Egyptian market.

Egyptian government provides small loans to individuals who recovered from addiction

Wed, 19 Jan 2022 - 04:59 GMT

The Anti-Drug and Addiction Treatment Fund held Wednesday a ceremony to celebrate providing a new batch of individuals, who recovered from addiction, small loans through Nasser Social Bank.

Sisi approves law authorizing Finance Min. to guarantee EgyptAir in LE5B loan

Sun, 26 Dec 2021 - 01:13 GMT

Earlier in December, the Egyptian House of Representatives approved the company’s loan, which is the third funding allocated by the state in less than two years to help the 90-year-old flagship carrier overcome the coronavirus-related implications.

Sisi approves loan to finance energy efficiency program

Thu, 02 Dec 2021 - 12:06 GMT

Egypt's official Gazette published on Thursday President Abdel Fattah El Sisi's decree that approved a 50-million-dollar loan to finance energy efficiency program.

Interview with World Bank's team: $360M loan aims to enhance Egypt's macrofiscal sustainability, private sector and gender inclusion

Thu, 28 Oct 2021 - 01:26 GMT

The program focuses on three thematic pillars, including: enhancing macro-fiscal sustainability, enabling private sector development, and fostering women’s economic inclusion.

Presidential decree approving loan deal to support private sector in Egypt

Thu, 28 Oct 2021 - 10:17 GMT

The agreement contributes to funding a program for supporting projects and facilities of micro, small and medium enterprises of the private sector in Egypt.

WB approves US$360 M loan to support Egypt’s Inclusive & Sustainable Economic Growth

Thu, 28 Oct 2021 - 09:28 GMT

The newly approved “Egypt Inclusive Growth for Sustainable Recovery” operation builds on this by supporting a second wave of structural reforms focused on creating jobs and providing an inclusive enabling environment for the private sector laying the basis for a sustainable recovery.

EBRD provides Egypt's Reefy with LE80M loan to support women entrepreneurs

Wed, 20 Oct 2021 - 02:55 GMT

EBRD noted that the loan will be provided under the EBRD’s Women in Business program. It will be used to support privately owned micro, small and medium-sized enterprises (MSMEs) that are owned by women, especially in governorates other than Greater Cairo and Alexandria.

EBRD provides NBKE with $25B to promote energy efficiency, renewable energy in Egypt

Thu, 09 Sep 2021 - 04:20 GMT

According to EBRD, 15 percent of the total loan amount is being co-financed by the Green Climate Fund (GCF).

EBRD provides QNB ALAHLI $50M loan to boost green investment in Egypt

Mon, 16 Aug 2021 - 02:49 GMT

EBRD clarified that the loan, which includes $ 7.5 million of concessional finance from the Green Climate Fund, will be used for on-lending to households and local small and medium-sized enterprises (SMEs).

Egyptian government offers 100K residential units to be purchased through Central Bank's initiative

Sun, 15 Aug 2021 - 02:15 GMT

Application began on August 15 and will last until September 9.

Sisi approves loan with Kuwait to establish 2 desalination plants in Egypt’s North Sinai

Sun, 25 Jul 2021 - 01:45 GMT

The loan, which was signed on November 23, 2020, totals 5.5 million Kuwaiti dinars (about US$ 18,27 million).

Egypt expected to receive in June last tranche of IMF $5.2 billion loan: Minister

Fri, 28 May 2021 - 07:44 GMT

Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today.

Egypt to receive $1.6B from IMF during 2nd half of June

Thu, 27 May 2021 - 03:05 GMT

Abul-Naga clarified this step is a tribute to the economic reform measures undertaken by the Egyptian state since 2016.

Sisi approves €1.88-loan facility agreement for "Monorail"

Thu, 15 Apr 2021 - 02:10 GMT

The decision stipulated the allocation of the loan to finance the operation of the Monorail train in the New Administrative Capital, which starts from Nasr City to the New Administrative Capital, and the Monorail train in 6th of October City, which starts from 6th of October City in Cairo, and operates and maintains them for a period of 15 years.

Egyptian pres. instructs CBE to launch real estate financing program offering 30-year loans with 3%-interest max

Mon, 15 Mar 2021 - 10:35 GMT

The program is targeted at low and middle income citizens.

Microfinance in Egypt grows by 7% in 3rd quarter of 2020

Thu, 31 Dec 2020 - 08:37 GMT

The number of beneficiaries also rose slightly by 0.5 percent.