Financing
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.
Gamea noted that those entities created 2.5 million jobs.
Maait said it is difficult to obtain the suitable financing given the current circumstances, if compared to the pre-pandemic period when the global economy was in a good condition.
Those are African and European countries as well as some Asian, North American, South American and Caribbean countries.
The duration of those bonds is 19 years.
The Egyptian government has taken concrete steps to revamp Greater Cairo's first metro line.
Emad pointed out that in accordance with the new project development law, the agency will start financing medium-sized projects, up to a maximum of LE 30 million pounds, so that the agency will provide various aspects of financing that help its clients to grow, expand and continue.
Al-Mashat said that developing a sustainable infrastructure for Egypt’s transportation sector is one of the main pillars that the state relies on to promote climate action, and to lead the regional transformation towards a green economy.
The World Bank and the Asian Infrastructure Investment Bank have agreed to provide in total $720 million for the Development Policy Financing (DPF) framework, with $360 million from each institution.
Increasing financing will take place through injecting additional funds to help the companies and factories face the increase in international prices, and to maintain operating and production rates.
Egypt’s Foreign Minister Sameh Shoukry chaired on Monday the African Union’s (AU) Peace and Security Council’s session on countering extremist ideology and terror finance, the Egyptian Foreign Ministry said in a statement.
This comes within the framework of the Ministry of International Cooperation’s endeavors to deepen strategic relations between Egypt and its multilateral and bilateral development partners; advancing the efforts towards achieving Egypt’s Vision 2030 and the UN’s Sustainable Development Goals (SDGs).
The EBRD has provided financing for the implementation of 143 projects, more than 75% of which are for the private sector, according to Rania Al-Mashat, Minister of International Cooperation.
Head of the Cooperation Sector at the European Union Commission in Cairo Minister Plenipotentiary Ibrahim el-Afia asserted the European Union (EU) has been financing projects in Egypt at a total value of 500 million euros during the period between 2017 and 2021 in several sectors as part of their joint partnership.
Prime Minister Mostafa Madbouli held Tuesday a meeting in Cairo with CEO of the African Funding Corporation (AFC) Samaila Zubairo and the accompanying delegation.
The minister added that the International Finance Corporation is Egypt's main partner in financing directed to the private sector, with a value of $1.2 billion in various development sectors, infrastructure, education, health, mining, in addition to financial markets.
The IFC, which is focused on developing private sector in Egypt, has invested over $4 billion in Egypt over the past decade, despite the COVID-19 pandemic;
The deal inked in January is subject to the endorsement of the president.
The program is targeted at low and middle income citizens.
In Aswan Forum for Sustainable Peace and Development, Mohieldin warned that 50-60 million Africans are at risk of getting pushed into poverty.
