The SBA loan has helped Egypt restore its global reserves, affected by the epidemic, dropping from US$45.5 billion at the end of February 2020 to US$36 billion in March.
SBA Loan program objective included helping Egypt to confront the coronavirus challenges by meeting its balance of payment requirements, reducing its fiscal deficit, maintaining the achievements of the Economic Reform programme over the last four years and providing funding to carry out Egypt's second economic reform wave.
This approval also opens way to...
Government also approved minimum bonus of at least EGP 60 starting July 1st 2021
The petroleum and mineral wealth sector saw the highest implemented projects, to EGP 1.2 trillion (USD 76 billion)
The electricity sector saw total of EGP 403 billion projects (USD 25 billion)
Housing sector and the development of slums investment amounted to about EGP 225 billion (USD 14 billion)
Transport sector saw projects investment worth EGP 117 billion (USD 7.4 billion)
EGP 51 billion were invested in projects in the health and pre-university education sectors. billion (USD 3.2 billion)...