Egypt’s SWF signs deals on EGP 25.5 bln projects

Prime Minister Mostafa Madbouly chaired today the first general assembly meeting of the TSFE to review the strategic vision of the Fund and the general investment policies that go in line with its goals, said a statement by the Cabinet.

The meeting also approved the estimated budget of 2022 and the annual financial lists.

A total of 10 projects were implemented or signed in 2021, despite global challenges, in utilities and infrastructure, tourism, real estate, antiquities development, financial services, digital transformation, education, and industry, said Soliman.

Projects under study for the next five years are in utilities and infrastructure, tourism, real estate, antiquities development, health services, pharmaceutical industries, agriculture and food industries, education, and other sectors, Soliman added.

The meeting reviewed the Fund’s strategy, implemented through its sub-funds established in 2020, to operate in real estate, tourism, and antiquities development.

Investments of the TSFE’s infrastructure sub-fund will focus on energy transformation projects, including projects of solar and wind power, as well as green hydrogen and waste-to-energy projects, the statement said.