Saudi Arabia deposited USD5 billion in the CBE, with one-year maturity that could be rolled over

Saudi Sovereign Wealth Fund is looking to invest USD 10 bn in Egypt’s healthcare, education, agriculture, and financial services sectors

IMF head has welcomed Egypt’s recent economic measures that tackle the balance of payments shock

Cabinet reviewed the highlights of its strategy to encourage private sector participation in the economy, charting which industries it will withdraw from and sectors where it wants to retain a presence

Orascom Construction, Engie, and Toyota finalize the collaboration and financial closure of the 500 megawatts wind power plant with a share of 25%, 35%, and 40%, respectively. The project is to cost c.USD500 million and is to be financed by EBRD in line with other Japanese banks.

Administrative Capital Company has postponed the results of the tender for the implementation of the smart transportation system for the capital, after expectations of an increase in the main raw materials used in infrastructure projects. Competing entities for the project included SWDY and Giza Systems.

NBE added a 6% stake in FWRY bringing NBE’s total stake to 12.25%

CNFN plans to issue another EGP5-6 bn in sukuk this year.  The company is also in talks with the FRA to launch a future flow securitization by 2H22

ATLC aims to issue securitization bonds worth EGP1.6 billion by the end of 2Q22, divided into 3 tranches