{"id":546827,"date":"2022-05-30T04:00:42","date_gmt":"2022-05-30T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/external-debt-up-6-in-2q-2021-2022\/"},"modified":"2022-05-30T04:00:42","modified_gmt":"2022-05-30T04:00:42","slug":"external-debt-up-6-in-2q-2021-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/external-debt-up-6-in-2q-2021-2022\/","title":{"rendered":"External debt up 6% in 2Q 2021-2022"},"content":{"rendered":"

External debt ros<\/strong>e 6% to U<\/strong>SD 145.5 bn during 2Q FY2021-2022<\/strong>, up from USD 137.4 bn during the first quarter, according to central bank data (pdf)<\/a> released yesterday. This is equivalent to 33.2% of GDP, up from 32.6% the previous quarter. The debt \u201cremains within manageable limits,\u201d the CBE said, citing its \u201cfavorable\u201d structure and a lower debt-to-GDP ratio than the average in other regions of the world. Long-term debt accounted for more than 90% of Egypt\u2019s total debt during the quarter.<\/p>\n

AfDB launches climate adaptation facility \u2014 and some of it could head our way:<\/strong> The African Development Bank (AfDB) has launched a new facility that will channel funds into sustainable small businesses and promote regulations that encourage the circular business model, the bank said<\/a> at the weekend. The Africa Circular Economy Facility<\/a> (ACEF) has received an initial EUR 4 mn from Finland and the Nordic Development Fund, which will be deployed in countries across Africa over five years. It\u2019s not yet clear how the facility will be divided among African countries and what kind of support could be in line for.<\/p>\n

What\u2019s a circular economy?<\/strong> Simply put, it\u2019s a business model that tries to limit waste and puts sustainability at the heart of production and consumption. Reusing and recycling waste, limiting pollution, and regenerating natural environments are all key \u201ccircular\u201d concepts.<\/p>\n

The Egyptian American Enterprise Fund (EAEF) invested <\/strong>USD 28 mn<\/strong> in Egypt in 2021<\/strong>, it said in its annual impact report (pdf)<\/a>. The EAEF made fresh commitments to Algebra Ventures Fund and Ezdehar Management Fund II during the year, taking its total investment since 2015 to USD 250 mn. The fund has invested in 10 companies and four funds over the seven-year period, and attracted another USD 657 mn in FDI into the country.<\/p>\n

Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n