Egypt inks finance agreements worth $4.5 bln in 2020/21

Al-Mashat made her comments on Monday during her participation in the 7th edition of the ‘CEO Thoughts Conference’, which kicked off on Sunday in Cairo.

The conference sheds light on how the Egyptian economy can mitigate the effects of a global recession.

These agreements provide banks operating in the Egyptian market with finances to on-lend small- and medium-sized enterprises, offer direct investments for companies and finance Egypt’s first private sector-led green bonds — which were issued by the Commercial International Bank in 2021 — according to the minister.

Al-Mashat also pointed out the development policy finances Egypt has obtained from the World Bank and the Asian Infrastructure Investment Bank with a total value of $750 million that aims to support the state’s sustainable and inclusive economic recovery efforts.

“This would be achieved through three key pillars; enhancing overall financial stability, fostering private sector participation in the country’s development efforts through financial and digital inclusion, and pushing forward women’s empowerment through regulatory and legislative reforms,” the minister explained.