Foreign Investment

Egypt, Italy forge strong agreements in diverse development sectors valued at €82M

Thu, 01 Feb 2024 - 05:38 GMT

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

Egypt, Italy forge strong agreements in diverse development sectors valued at €82M

Thu, 01 Feb 2024 - 05:38 GMT

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

IMF's mission visits Cairo to discuss $3B loan for Egypt's reform program

Sun, 21 Jan 2024 - 03:08 GMT

The IMF mission, headed by Ivanna Vladkova Hollar, Chief of the Middle East and Central Asia department, comprises IMF representatives as well

Foreign companies allowed to preserve capital increase deposit in FX

Tue, 16 Jan 2024 - 03:48 GMT

The CEO of GAFI, Hossam Heiba, expressed that the primary objective of this measure is to alleviate the burden on foreign companies by facilitating their access to foreign currency

Africa Finance Corp., ITFC to provide Egypt with $250M for procurement of essential commodities

Tue, 16 Jan 2024 - 12:05 GMT

Meticulously structured per Sharia principles, the trade loan represents a dynamic response to the evolving economic landscape in Africa, the AFC explained

MOIC signs two $19M grants within Framework of the Bilateral Cooperation Program with Switzerland

Sun, 14 Jan 2024 - 06:25 GMT

These grants aim to support the Ministry of Housing, Utilities, and Urban Communities in implementing the second phase of the drinking water management program in Upper Egypt and the sludge management project in Beni Suef

IMF highlights importance of additional financing for Egypt's program successful

Sun, 14 Jan 2024 - 10:07 GMT

IMF's team is currently engaging in discussions with Egyptian authorities to support the completion of the first and second reviews of the Extended Fund Facility (EFF) that Egypt has with the Fund

IMF Chief, US Secretary pledge support for Egyptian economy amidst challenging times

Wed, 10 Jan 2024 - 02:17 GMT

During the meeting, Secretary Yellen underscored the unwavering support of the United States for Egypt and its ongoing economic reform program

Cabinet approves sale of land in USD to foreign companies

Thu, 04 Jan 2024 - 02:01 GMT

This is in line with the government’s efforts to attract foreign currency amid an FX shortage that has impacted several sectors

Egypt targets $12B in FDIs by end of FY23\24

Wed, 03 Jan 2024 - 02:55 GMT

Egypt also set a target to achieve 20 percent rise in FDI flows, driven by the depreciation of its currency

Sisi directs to provide factors that attract foreign investments, production requirements

Sun, 31 Dec 2023 - 03:14 GMT

This came during President Abdel Fattah El-Sisi’s meeting with Mostafa Madbouly, Prime Minister, and Hassan Abdullah, Governor of the Central Bank.

IMF near to approve expansion of Egypt’s loan to $6B

Wed, 20 Dec 2023 - 12:12 GMT

Egypt is close to finalizing of an agreement with the International Monetary Fund (IMF) to enhance its current $3 billion rescue program. According to Bloomberg's sources, the program is expected to be expanded to around $6 billion

Egypt obtained $38.8B in financing in past 4 years to support SDG progress, Al -Mashat

Sun, 17 Dec 2023 - 06:21 GMT

Al-Mashat clarified that the financing was “dedicated to accelerating progress towards sustainable development in electricity, renewable energy, transportation, MSMEs, water, education, health, and many other sectors".

Egypt to receive $21.5B from foreign investments: ECS Chief

Wed, 13 Dec 2023 - 05:07 GMT

These investments will be distributed as follows: Indian investments amounting to $13 billion, Turkey $3 billion, Belgium $3 billion, and China $2.5 billion.

IMF near to support Egypt's economic reforms

Mon, 04 Dec 2023 - 03:46 GMT

She stated that Egypt can expect substantial backing from the IMF in the first quarter of 2024

Egypt targets $3.9B foreign investments from SCZONE

Thu, 23 Nov 2023 - 01:58 GMT

This goal comes after SCZONE garnered investments worth $1.3 billion in the first four months of the current fiscal year.

Afreximbank signs off on $3B worth of credit facilities to Egyptian companies

Tue, 14 Nov 2023 - 01:06 GMT

The trade director shared that the bank and Hassan Allam Holding signed a $200 million credit facility to support its projects across Africa and the Middle East

Kuwait reportedly extending $4B deposit, part of support for Egypt’s FX reserves

Mon, 13 Nov 2023 - 02:23 GMT

To close a projected financing gap of around $17 billion by 2026, Egypt is looking to attract fresh foreign currency, including a target of $6-8 billion by the end of FY2023/2024.

Egypt’s foreign reserves record $34.97 billion in September: CBE

Wed, 04 Oct 2023 - 02:24 GMT

This represents an increase of $1 billion from the previous month, as reported by the Central Bank of Egypt. The increase in reserves marks the highest level achieved since 2019.

Japanese companies are looking forward to invest in SCZone’s region

Sun, 01 Oct 2023 - 04:23 GMT

During the meeting, the two sides also discussed cooperation in green energy projects, and supporting small and emerging projects

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