Fund
Minister of Local Development and Environment Dr. Manal Awad, held a meeting Tuesday with Guillaume Deeb, Deputy Resident Representative of the United Nations Development Programme (UNDP).
Madbouly said the IMF's assessment confirms that Egypt has strengthened its ability to withstand external shocks.
The latest approval allows Egypt to immediately receive $1.5 billion under the EFF and an additional $272 million through the RSF, bringing total IMF disbursements under both arrangements to approximately $7.3 billion.
This report shows the efforts of the hotline services of the Fund for Combating and Treating Addiction and Substance Abuse “16023.”
The Minister added that the initiative serves as a model for effective partnerships with development partners, translating national priorities into practical action in cooperation with UNDP Egypt and with the support of the World Coral Reef Fund.
The ministry has received a request from the Federation of Egyptian Industries (FEI) to provide funding of up to LE 7.8 billion. The proposed funding will be allocated to pharmaceutical, engineering, construction materials, textile, food, and chemical industries.
The funds are provided by microfinance enterprises, NGOs and banks.
The Africa50 Fund aims to invest in infrastructure, focusing on sectors such as energy, transportation, information and communication technology, and water.
It is the first proposal to be submitted for discussion, and work will take place during the coming period through a consultative process to reach the most appropriate formula that can be agreed upon about creating this fund.
In a session with Minister of Education, Reda Hegazy, senate members presented their suggestions to tackle current issues facing the educational sector on Monday.
The bill also indicated the sources of funding.
The announcement was made early on Sunday.
The AfDB's vice-president, Kevin Urama, stated in July that Africa was losing 5 percent to 15 percent of GDP per capita due to climate change.
The CEO of the Sovereign Fund of Egypt revealed that the value of the portfolio ranges between $3 billion and $4 billion, with the aim of raising it to more than $5 billion or $6 billion.
Egypt's Law No. 149 of 2019 regulating the practice of civil work stipulated the establishment of a fund to support projects of NGOs and institutions.
Saad pointed out that the fund's focus now is investing in green economy as well as cooperating with the private sector.
The company will use the proceeds of the financing round to expand the customer base under its HealthTag platform, or “Health Card”; To store and share medical records.
The program focuses on three thematic pillars, including: enhancing macro-fiscal sustainability, enabling private sector development, and fostering women’s economic inclusion.
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.
The establishment of the fund aims to nurture young talents as they are a promising investment for the future and capable of achieving many gains for the Egyptian market, given what Egypt possesses of distinguished young cadres in various fields, foremost of which is financial technology.
