Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has left his home for the first time in almost two weeks and returned to office, after self-isolating due to exposure to a COVID-19 carrier on June 11.
Egypt to turn once again to the International Monetary Fund (IMF), which on June 26 agreed to the former's request for a one-year, USD 5.2 bn (EGP 84 bn) financing package, as the country's economy reels from the Coronavirus financial fallout.
Ministry of Housing, Utilities, and Urban Communities said the foundations and determinants for the involvement of private developers in social housing projects have been finalized.
The Central Bank of Egypt (CBE) has left interest rates stationary for the third consecutive meeting, citing lowered inflation rates, enhanced global financial conditions, and expectations of an economic recovery.
Deputy Minister of Housing, Utilities, and Urban Communities for National Projects Khaled Abbas has announced that the New Administrative Capital's (NAC) Iconic Tower - set to be the tallest in Africa - stands at 188 meters long now, out of the planned 400 meters.
The New Urban Communities Authority (NUCA) will grant facilities for various mixed-use investment lands in new cities, with areas of at least 2 acres, in an attempt to spur urban growth and mitigate Coronavirus strains on developers.
Egypt will reopen restaurants and cafés, along with cinemas and theatres, on June 27, on condition of operating at no more than 25% capacity, seemingly shortening nighttime curfew to begin from 12 midnight to 4 am.
The Central Bank of Egypt (CBE), in cooperation with the finance ministry, will provide EGP 3 bn worth of credit guarantees to the tourism sector, under the EGP 50 bn tourism support program.
Banque Misr and the Real Estate Development Chamber at the Federation of Egyptian Industries (FEI) signed on June 17 a cooperation protocol to stimulate local real estate financing.
Minister of Planning and Economic Development Hala El Saeed has uncovered the allocation of EGP 93.5 bn to the Egyptian healthcare sector in the FY 2020/21 budget, reflecting a 28% hike from allotments of the year-ago period.
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