Madbouly tours manufacturing facilities in Suez

Prime Minister Mostafa Madbouly inspected the Suez Medical Complex affiliated with Egypt Healthcare Authority, during his visit to Suez on Saturday.   The Prime Minister emphasized that healthcare is a top priority in building human capacity and achieving sustainable health development, as well as accelerating the implementation of comprehensive health…

Maait assumes role as representative of Arabs, Maldives at IMF

Egypt’s former finance minister Mohamed Maait has officially taken on his new role as Executive Director and member of the Executive Board, representing the Arab Group and Maldives at the International Monetary Fund (IMF). Maait expressed gratitude to President Abdel Fattah Al-Sisi for his trust and support in nominating him…

GCF approves financial aid of $2.687bn to Egypt, other countries

The Green Climate Fund (GCF) approved the financing proposals for the multi-country programmes: Greening Financial Systems, the Smart Resilient Agriculture Investment Fund, and the Resilient Water Infrastructure Expansion Facility, to finance these projects in a number of countries, including Egypt, with a financing package estimated at $2.687bn.   This came…

Can Egypt negotiate changes to its IMF deal?

Since President Abdel Fattah Al-Sisi asked the government to review Egypt’s agreement with the International Monetary Fund, several questions have surfaced, the most important of which is whether Egypt is entitled to review its agreement with the Fund? Does this affect the regularity and continuity of the programme? Does it…

CIB signs credit facility to finance Flex Asepto Egypt

The Commercial International Bank (CIB) announced signing a credit facility contract with one of the companies of the U Flex Group, one of the largest packaging groups in the world. It aims to support the “Flex Asepto Egypt” project, which will be the first factory for bottling sterile liquids in…

Industry accounts for 57% of bank loans in March: CBE

The industrial sector accounted for 57% of the banking sector’s loans, amounting to about EGP 6.8tn in March 2024, according to the Central Bank of Egypt (CBE). In its recent financial stability report, CBE said that the services sector accounted for 30% of the banking sector’s loans, followed by the…
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