{"id":551055,"date":"2022-05-23T13:15:09","date_gmt":"2022-05-23T13:15:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/this-evening-govt-addresses-how-egypt-will-finance-its-vision-2030-online-used-car-retailer-sylndr-raises-usd-12-6-mn-pre-seed-round\/"},"modified":"2022-05-23T13:15:09","modified_gmt":"2022-05-23T13:15:09","slug":"this-evening-govt-addresses-how-egypt-will-finance-its-vision-2030-online-used-car-retailer-sylndr-raises-usd-12-6-mn-pre-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/this-evening-govt-addresses-how-egypt-will-finance-its-vision-2030-online-used-car-retailer-sylndr-raises-usd-12-6-mn-pre-seed-round\/","title":{"rendered":"THIS EVENING: Gov\u2019t addresses how Egypt will finance its Vision 2030? + Online used-car retailer Sylndr raises USD 12.6 mn pre-seed round"},"content":{"rendered":"

Happy Monday, friends, and welcome to another relatively busy afternoon.<\/strong> We have a couple of stories developing today, but you\u2019ll want to keep an eye on the USAID\u2019s International Conference on Alternative Financing Opportunities in Egypt, where key members of government are discussing sustainable financing and how these tools fit into our Vision 2030 plans. We have a quick check-in from the conference in Happening Now, below, and will bring you more details in tomorrow\u2019s edition of EnterpriseAM.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> Online used-car retailer <\/strong>Sylndr<\/a><\/strong> raised USD 12.6 mn in a pre-seed round<\/strong> led by Raed Ventures<\/a>, with the funding earmarked for building the company\u2019s operational capabilities, technology infrastructure and brand awareness, the startup said in a press release (pdf)<\/a>. Founded late last year by Omar El Defrawy and Amr Mazen, the startup aims to facilitate the process of buying, selling and financing the purchases of used cars.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

In a shift away from Ukraine-focused news:<\/strong> The global press is fixated this afternoon on US President Joe Biden saying Washington would intervene militarily to stop a Chinese invasion of Taiwan.<\/strong> Speaking in Japan earlier today, Biden said the US\u2019 position on recognizing China\u2019s rulers \u201cas the only legitimate government\u201d remains unchanged, but stressed that China moving to take Taiwan \u201cby force \u2026 would dislocate the entire region and be another action similar to what happened in Ukraine.\u201d The Wall Street Journal<\/a>, the Financial Times<\/a>, Bloomberg<\/a>, and the New York Times<\/a> have the story.<\/p>\n

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<\/a> HAPPENING NOW- How will Egypt finance the policies needed for Vision<\/strong> 2030? That\u2019s the question Planning Minister Hala El Said<\/strong>, Finance Minister Mohamed Maait, IMF Executive Director and UN Special Envoy for Financing the 2030 Agenda Mahmoud Mohieldin, US Charg\u00e9 d\u2019Affaires Nicole Shampaine, and others have tried to answer at USAID\u2019s International Conference on Alternative Financing Opportunities in Egypt: Towards Sustainable Financing for Development, which runs today and tomorrow. The conference gathers and other representatives of international organizations, to discuss sustainable financing in Egypt.<\/p>\n

Egypt\u2019s GDP growth will exceed 5% in 3Q2021-2022<\/strong>, El Said said during the conference, Reuters<\/a> reports. Egypt had recently trimmed<\/a> its growth forecast for the financial year to 5.7% from 6.4% due to the economic impact of the war in Ukraine, after recording 9% growth<\/a> in 1H2021-2022.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n