{"id":602339,"date":"2019-03-25T04:00:30","date_gmt":"2019-03-25T04:00:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/"},"modified":"2019-03-25T04:00:30","modified_gmt":"2019-03-25T04:00:30","slug":"suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","title":{"rendered":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks"},"content":{"rendered":"

The Suez Canal Authority (SCA) has reportedly reached an agreement with the Finance Ministry that will see the ministry paying off the USD 600 mn the authority owes to state-owned banks, Al Shorouk reports<\/a>. Under the agreement, the authority will pay off the remaining USD 300 mn it owes to the banks on its own. The SCA has reportedly fallen behind on its repayments since December 2018, with each instalment due six months apart.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Suez Canal Authority (SCA) has reportedly reached an agreement with the Finance Ministry that will see the ministry paying off the USD 600 mn the authority owes to state-owned banks, Al Shorouk reports. Under the agreement, the authority will pay off the remaining USD 300 mn it owes to the banks on its own. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[204,2372,7106,72,276,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602339","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking","tag-banking-finance","tag-debt","tag-enterpriseam","tag-finance-ministry","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"53eae23b-d6d1-40bb-b930-3818f6ed3f11","is_powered_by":true,"section_story_id":"d6fd332f-5a9f-4499-8860-73fb02b8db84","story_type":"1","photo_url":"","photo_position":"above","related_issue":[602313],"teaser":"","voice_url":""},"yoast_head":"\nSuez Canal Authority agrees with FinMin to pay off debts to state-owned banks - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks\" \/>\n<meta property=\"og:description\" content=\"The Suez Canal Authority (SCA) has reportedly reached an agreement with the Finance Ministry that will see the ministry paying off the USD 600 mn the authority owes to state-owned banks, Al Shorouk reports. Under the agreement, the authority will pay off the remaining USD 300 mn it owes to the banks on its own. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-25T04:00:30+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks\",\"datePublished\":\"2019-03-25T04:00:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\"},\"wordCount\":84,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"BANKING + FINANCE\",\"debt\",\"EnterpriseAM\",\"Finance Ministry\",\"Suez Canal Authority\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\",\"name\":\"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2019-03-25T04:00:30+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","og_locale":"en_US","og_type":"article","og_title":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks","og_description":"The Suez Canal Authority (SCA) has reportedly reached an agreement with the Finance Ministry that will see the ministry paying off the USD 600 mn the authority owes to state-owned banks, Al Shorouk reports. Under the agreement, the authority will pay off the remaining USD 300 mn it owes to the banks on its own. […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2019-03-25T04:00:30+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks","datePublished":"2019-03-25T04:00:30+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/"},"wordCount":84,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["banking","BANKING + FINANCE","debt","EnterpriseAM","Finance Ministry","Suez Canal Authority"],"articleSection":["Banking + Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/","name":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2019-03-25T04:00:30+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/suez-canal-authority-agrees-with-finmin-to-pay-off-debts-to-state-owned-banks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Suez Canal Authority agrees with FinMin to pay off debts to state-owned banks"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":602702,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/suez-canal-authority-denies-finmin-to-pay-off-usd-600-mn-in-debt\/","url_meta":{"origin":602339,"position":0},"title":"Suez Canal Authority denies FinMin to pay off USD 600 mn in debt","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"The Suez Canal Authority denied it has reached an agreement with the Finance Ministry to pay off USD 600 mn worth of the authority\u2019s debt to state-owned banks, according to a cabinet statement. The authority maintained the canal brought in historical revenues in 2018.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634996,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/bank-consortium-waiting-on-finance-ministry-to-lend-the-sca-c-usd-602-mn-sca-will-likely-look-abroad-for-financing-of-dredgers\/","url_meta":{"origin":602339,"position":1},"title":"Bank consortium waiting on Finance Ministry to lend the SCA c. USD 602 mn; SCA will likely look abroad for financing of dredgers","author":"enterpriseam admin","date":"30 January 2018","format":false,"excerpt":"A banking consortium is waiting on the Finance Ministry to issue a guarantee for a USD 602 mn loan for the Suez Canal Authority (SCA). The facility will finance several of the authority\u2019s planned construction projects, unnamed industry sources tell Al Shorouk. Consortium members include CIB, Banque Misr, NBE, AAIB,\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638582,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/09\/sca-in-the-market-for-eur-300-mn-loan-to-finance-dredger-purchase\/","url_meta":{"origin":602339,"position":2},"title":"SCA in the market for EUR 300 mn loan to finance dredger purchase","author":"enterpriseam admin","date":"9 October 2017","format":false,"excerpt":"The Suez Canal Authority (SCA) has asked Banque Misr and National Bank of Egypt for a EUR 300 loan to buy two new dredgers, sources tell Reuters. The banks are now preparing the terms of the agreement, they noted. SCA had signed a EUR 300 mn agreement with Dutch Royal\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563445,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/is-the-ever-given-dispute-finally-resolved\/","url_meta":{"origin":602339,"position":3},"title":"Is the Ever Given dispute finally resolved?","author":"enterpriseam admin","date":"4 July 2021","format":false,"excerpt":"The owner of the Ever Given has reportedly agreed to pay USD 540 mn in compensation to Egypt for the blockage of the Suez Canal just a few days before a legal showdown in an Egyptian court. Sources tell Al Arabiya that Shoei Kisen and the ship\u2019s ins. companies including\u2026","rel":"","context":"In "DISPUTE WATCH"","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/17.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560287,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/also-on-our-radar-on-22-february-2021\/","url_meta":{"origin":602339,"position":4},"title":"Also on our radar on 22 February 2021","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"The Suez Canal Authority (SCA) is borrowing USD 100 mn from a syndicate of four local banks to finance ongoing projects, Al Mal reports, citing unnamed sources. CIB, Banque du Caire, and Arab African International Bank will provide USD 30 mn each, and the remaining USD 10 mn will be\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594691,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/whats-going-on-with-egypts-repayment-of-the-suez-canal-certificates\/","url_meta":{"origin":602339,"position":5},"title":"What\u2019s going on with Egypt\u2019s repayment of the Suez Canal certificates?","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"What\u2019s going on with the Suez Canal certificate payments? Reports emerged in the local press yesterday claiming that the Finance Ministry intends to issue EGP 64 bn-worth of debt instruments to pay the holders of five-year Suez Canal certificates of deposit (CD), which mature this Thursday. Unnamed government sources speaking\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=602339"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602339\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602313"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602339"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602339"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}