{"id":603694,"date":"2023-08-20T00:00:00","date_gmt":"2023-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/cabinet-approves-fresh-loans-to-support-banking-industry-fund-abu-qir-metro\/"},"modified":"2023-08-20T00:00:00","modified_gmt":"2023-08-20T00:00:00","slug":"cabinet-approves-fresh-loans-to-support-banking-industry-fund-abu-qir-metro","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/cabinet-approves-fresh-loans-to-support-banking-industry-fund-abu-qir-metro\/","title":{"rendered":"Cabinet approves fresh loans to support banking industry, fund Abu Qir metro"},"content":{"rendered":"

Cabinet greenlights fresh development finance: <\/strong>The Madbouly cabinet approved at its weekly meeting a number of loans and grants recently agreed with multilateral lenders and the Canadian government, it said in a s<\/a> tatemen<\/a> t<\/a>. <\/p>\n

AMF loan for the banking system: <\/strong>Cabinet approved a USD 615.8 mn loan<\/a> from the Arab Monetary Fund (AMF) to support the banking sector. The loan will \u201cprovide the necessary foreign exchange resources to support structural reform efforts in the banking and financial sector,\u201d according to the statement. It will help upgrade the nation\u2019s payment systems infrastructure, support financial inclusion and improve the regulatory framework for the banking and financial sector, the AMF said in July.<\/p>\n

Abu Qir metro money: <\/strong> Cabinet greenlit an agreement that will see the Asian Infrastructure Investment Bank (AIIB) provide EUR 250 mn in financing<\/a> for the redevelopment of the Abu Qir railway in Alexandria. The project seeks to convert the railway into an electric, low-carbon, underground metro. <\/p>\n

Canadian agriculture money: <\/strong> A Canadian grant<\/a> of CAD 10 mn (USD 7.4 mn) for projects to enhance food security and combat climate change got the go-ahead from ministers. The funding will go to a program aimed at supporting sustainable agriculture and agricultural biodiversity in the Nile Delta and Upper Egypt.<\/p>\n

PLUS- FinMin to offer temporary life ins. for gov\u2019t employees at the new capital: <\/strong> The Finance Ministry will contract with Misr Life Ins. to provide temporary life ins. for employees working at the new administrative capital and beneficiaries of housing in Badr City, after approval from the cabinet.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ministers greenlight loans for banking sector reform + the Abu Qir metro.<\/p>\n","protected":false},"author":1,"featured_media":603695,"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":[7306],"tags":[97,617,2399,204,282,101,8803,72,276,2234,181,3115,875,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-agriculture","tag-arab-monetary-fund","tag-asian-infrastructure-investment-bank","tag-banking","tag-cabinet-watch","tag-development-finance","tag-egypt-canada-relations","tag-enterpriseam","tag-finance-ministry","tag-foreign-exchange","tag-insurance","tag-misr-life-insurance","tag-new-administrative-capital","tag-transport","wpautop","entry"],"acf":{"mongo_id":"e21c9187-3462-4a58-acee-f1974b71311f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/891.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt cabinet approves fresh loans to support banking industry, fund Abu Qir metro","related_issue":[603685],"teaser":"Ministers greenlight loans for banking sector reform + the Abu Qir metro.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.4a85b654-9268-4180-a156-4c0cbc4d7a69.mp3"},"yoast_head":"\nCabinet approves fresh loans to support banking industry, fund Abu Qir metro - 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No further details were provided on the changes, but sources told the local press last month that a revised version of the bill would\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":[]},{"id":619237,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/29\/govt-mulls-subsidized-loan-program-for-hospitality-players-to-boost-hotel-room-capacity\/","url_meta":{"origin":603694,"position":4},"title":"Gov\u2019t mulls subsidized loan program for hospitality players to boost hotel room capacity","author":"enterpriseam admin","date":"29 April 2024","format":false,"excerpt":"The initiative will offer investors subsidized loans at a 12% interest rate","rel":"","context":"In \"debt\"","block_context":{"text":"debt","link":"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1945.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576117,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/10\/whos-in-the-market-for-debt-dar-al-fouad-hospital-waterway-developments-conrad-hotel\/","url_meta":{"origin":603694,"position":5},"title":"Who\u2019s in the market for debt? Dar Al Fouad Hospital, Waterway Developments, Conrad Hotel","author":"enterpriseam admin","date":"10 November 2020","format":false,"excerpt":"The Arab African International Bank will arrange and manage a EGP 1 bn syndicated loan for Dar Al Fouad Hospital, which will use it to fund the USD 120 mn expansion of its Nasr City hospital, Al Shorouk reports, citing sources from the bank. The sources did not disclose the\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603694","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=603694"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603694\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603695"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603694"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603694"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}