News / Government

IMF Board Approves USD 2 bn Tranche to Egypt

The International Monetary Fund’s (IMF's) executive board completed on February 2 the fourth review of Egypt’s economic reform program, allowing the country to draw about USD 2 bn worth of loan, bringing the country's total disbursements to USD 10 bn.

Madbouly Reviews Latest Updates on New Cities

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly held a meeting with officials from the New Urban Communities Authority (NUCA) and the housing ministry’s leaders to follow up on the progress of projects in New Mansoura, New Aswan, and Nasser City - west Assiut.

Finance Ministry Signs 8 Contracts for 24 Language Schools

The Ministry of Finance has announced the signing of contracts with eight Egyptian and Arab investment companies for the establishment of 24 language schools in seven governorates.

Gov’t Seeks Extending Mortgage Finance

Egypt’s Ministry of Housing is currently studying other alternatives for the state’s limited mortgage finance system, taking into account the initiatives and suggestions proposed by some real estate developers, including launching a fund to support the interest rates of real estate’s finance, in addition to other funds in order to modify the current initiative

New Fayoum to Have New Industrial Zone: Official

Head of New Fayoum City Authority Ashraf Abdulrahman has announced the launch of a 50-acre new industrial zone project, east of New Fayoum's residential district, on the Western Desert Road

Egypt Achieves 5.4% Economic Growth in H1 FY 2018/19

Egypt has managed to achieve a real economic growth rate of 5.4% during the first half of the current FY, while targeting reaching 5.6% during the second half of the same year and 5.8% by the end of it.

Gov’t Inaugurates New Sphinx Authority’s Headquarters

Vice President of New Urban Communities Authority (NUCA) Abdulmutallab Mamdouh inaugurated on January 28 the administrative headquarters of New Sphinx Authority, west Cairo.

German Minister for Economic Affairs Visits Egypt to Review Country’s Progress

Germany's Federal Minister for Economic Affairs and Energy Peter Altmaier is visiting Egypt from February 2 to 4, accompanied with an economic and parliamentary delegation, attempting to scrutinize the progress made through the country's economic reforms, while strengthening economic relations between both parties.

ACUD Delegates Visit France, Austria to Market NAC Project

A delegation of the Administrative Capital for Urban Development (ACUD) flew to Austria and France on February 2 to communicate with the Egyptian community abroad, as well as the international media, aiming to introduce them to the New Administrative Capital (NAC) project, east Cairo

OECD Raises Egypt’s Rating as Attractive Destination for Investment

The Organization for Economic Cooperation and Development (OECD) has raised Egypt’s rating on the country risk index from level six to five as an attractive destination for investment.

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