Latest in Tag: World Bank Highlight
Latest in Tag: World Bank
Pound flotation, increase in energy prices to revive Egypt’s economy: World Bank
The World Bank said on Saturday that the liberalisation of the Egyptian pound and an increase in energy prices will help Egypt create jobs and revive the economy. The Central Bank of Egypt (CBE) decided on Thursday to liberalise the national currency’s exchange rate and leave its value to the mechanisms of supply and demand. …
Egypt ranks 122 out of 189 countries in Doing Business report for 2017
Tax payment performance in Middle Eastern countries is good; however, Egypt has not yet implemented a VAT refund mechanism for capital expenses
External debt: a tricky, dangerous route towards reform
Egypt’s negotiations for loans from the International Monetary Fund, World Bank, and the African Development Bank would increase the country’s external debt to approximately $70bn. Yet, the government views the loans as a way for reforming poor economic conditions that have plagued the country since 2011, and a tool to attract foreign investment. Essentially, …
Prime Minister reveals source of additional $3bn in foreign exchange reserves in September
Egypt received $2bn from Saudi Arabia and $1bn from the World Bank
Government to include capital gains tax in economic reform programme: Chris Jarvis
The IMF mission chief to Egypt spoke at the IMF and World Bank meetings being held in Washington DC
China, India are the future of international trade: Mahmoud Mohieldin
Economic centre of gravity has moved from west to east, says the World Bank Group senior vice president
Nasr discusses developmental projects to be financed with $8bn World Bank package
Minister of International Cooperation discusses visit of the mission to Egypt from 9 to 13 October
Egypt receives 54% of its financing portfolio from World Bank
Two new agreements were signed within the present programme worth $400m
World Bank, government discuss second tranche of $3bn loan
The World Bank expects 5.5% growth in Egypt in FY 2019
World Bank, AFDB mission to visit Egypt to discuss granting second tranche of fund
The mission will provide the second tranche of funding from the two banks, which includes $1bn from the World Bank and $500m from the AFDB
Minister of International Cooperation discusses future cooperation with World Bank official
Both parties discuss governmental, private sector, development projects, as well as Egypt’s participation in World Bank annual meeting
International Cooperation Ministry aims to secure $15bn over 3 years, representing 50% of funding gap
Ministry has provided $3.8bn out of $5bn to finance 20 development projects during FY 2016/2017
Natural Gas supply project will expand to reach 20 governorates: International Cooperation Minister
In 2014, the World Bank funded the original three-year project for the 11 governorates with $500m and AFD with €70m, and in 2015, the EU supplied a grant worth €68m
World Bank allows Egypt just $1bn for budget-support programme, $2bn for development projects: Meit
US dollar loans allocated to pay off foreign commitments on time, no new governmental employment beyond what is necessary
World Bank facilitates talks between Egypt, Sudan, Ethiopia
Water ministers of the three countries are visiting the US to gain knowledge about the Colorado River
Ministry of Investment to improve policies with World Bank expertise
The ministry is evaluating the investment climate and the requirements for preparing unified state investment policies
Egypt targets $21bn loan over 3 years to finance economic programme
IMF to offer $12bn, while the World Bank, AFDB, and international bonds will secure the remainder of the loan
Egypt moves up to rank 49 on World Bank’s Logistics Performance Index
Egypt improved in four out of the six sub-indices of the Logistics Performance Index, compared to 2014
Housing Minister tasks officials to quickly offer rent units in social housing project
Madbouly instructed preparation for the launch of about 40,000 units for rent
Plans to develop infrastructure of 6 industrial zones: Minister of Industry
Qabil said there is “full coordination between the ministries of industry, international cooperation, and local development to put it into action” to align with the government’s vision.
World Bank and AFDB reports put CRCICA in line with international standards
An official at the Cairo Regional Centre for International Commercial Arbitration (CRCICA) said that two confidential reports from the World Bank and the African Development Bank (AFDB) showed that the CRCICA is independent from all parties and fits within the international standards for foreign arbitration. He told Daily News Egypt that the World Bank was …
International conference on private sector to kick off in July
The conference will go by the name ‘What’s Holding Back the Private Sector in MENA? Lessons from the Enterprise Survey’
World Bank allocates $75m to develop Upper Egypt hospitals
Parliamentary sources said the grant is specified for basic hospitals that serve as the first line of defence in the medical care system in Minya, Assiut, Sohag, Qena, and Aswan.
4.4% growth in GDP forecasted for FY 2016/17 in Egypt: World Bank
$35bn accumulated in direct and indirect losses from war in Syria and advance of IS in MENA region
World Bank loan contingent on parliament’s approval of VAT: ministry source
Lack of funding and experience are main obstacles for SMEs, says minster of international cooperation
Egypt discusses tax reforms in IMF-World Bank meetings
Egyptian delegation agreed with IMF officials to cooperate in studying methods to enforce VAT law
Comprehensive survey of private sector planned for June: Nasr
The Ministry report will detail activities of 1,300 Egyptian companies and compare their performance to the period before the revolution
World Bank to disperse $1 bn loan instalment upon approval of government programme
The loan instalment is a portion of the $3 bn loan package signed between the government and Egypt in December 2015
Implementation of VAT to generate EGP 35bn in FY 2016/2017: Ministry of Finance official
Parliament is yet to discuss and vote on the implementation of the Value Added Tax
Transfast targets $100m Egyptian remittances by March 2017
Transfast will announce the results of discussions with other leading banks in Egypt to expand its activities and business in two months, says CEO