World Bank commends Upper Egypt Local Development Programme
Manal Awad, Minister of Local Development, announced that the World Bank has highlighted the significant achievements of the Upper Egypt Local Development Programme (UELDP) in its latest report, praising its role in driving economic growth, enhancing infrastructure, and improving citizens’
Egypt discusses enhanced cooperation with World Bank to drive digital transformation
Amr Talaat, Egypt’s Minister of Communications and Information Technology, has met with Sangboo Kim, Vice President of the World Bank for Digital Transformation, and his delegation to discuss strengthening collaboration in the field of digital transformation. The meeting, which took
Egypt to adopt new methodology for economic development planning
Egypt will implement a new methodology for preparing its economic and social development plan for the 2025-2026 fiscal year, Planning and International Cooperation Minister Rania Al-Mashat announced at the 6th Economic Conference organised by Hapi Journal. The new approach aims
Egypt’s external debt surges 307% as GNI climbs 69%: World Bank
Egypt’s external debt skyrocketed by 307%, while its Gross National Income (GNI) rose by 69%, according to the World Bank’s International Debt Report 2023. Among Low- and Middle-Income Countries (LMICs), Egypt recorded a $17.4bn short-term debt inflow in 2022, representing
Al-Mashat highlights government support for Egyptian entrepreneurship
Minister of Planning and Economic Development and International Cooperation Rania A. Al-Mashat participated in the American Chamber of Commerce in Cairo’s announcement of a new Entrepreneurship and Innovation Committee. Al-Mashat highlighted the Egyptian government’s commitment to fostering entrepreneurship and its
Egyptian investors emphasize private sector’s significance for economic growth
Chairperson of Al Ahly Sabbour Developments, Ahmed Sabbour, emphasized that investors have become a central focus of global attention. They are the driving force that elevates the economy to higher efficiency, significantly contributing to international production through investments that ultimately
MSMEDA partners with banks to offer Islamic financing for small enterprises: CEO
Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced Monday that the agency partnered with several banks to provide Islamic financing solutions for small enterprises. These banks include Faisal Islamic Bank of Egypt, United Bank,
Electricity Minister, IFC delegation discuss ways to strengthen cooperation
Minister of Electricity and Renewable Energy, Mahmoud Esmat, has received a delegation from the International Finance Corporation (IFC), a development arm of the World Bank, headed by Valerie Levkov, Director for Energy, Metals and Mining, and Sustainable Infrastructure Advisory at
Egypt explores retail bond market to boost financial inclusion
The Egyptian Ministry of Finance has hosted the Annual Retail Bond Conference in collaboration with the World Bank, drawing renowned experts from various countries to explore innovative solutions and best practices in the retail bond market. The conference highlighted the
MSMEDA, World Bank partner to upgrade Egyptian entrepreneurship eco-system: Rahmy
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), emphasized enhancing Egyptian startups with both financial and technical support, by working on developing innovative ideas to reach the commercialized stage. “Such set of supportive programs targeting