{"id":620255,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/"},"modified":"2024-05-19T00:00:00","modified_gmt":"2024-05-19T00:00:00","slug":"negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/","title":{"rendered":"Negotiations have kicked off on our USD 1.2 bn green financing from the IMF"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, friends. <\/strong><span style=\"background-color: transparent;\">We are kicking off the workweek with a packed issue, so let\u2019s jump right in.<\/span><\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <a id=\"wwtt1\"><\/a> <strong>#1- USD 1.2 bn i<\/strong><strong>n green financing in the works:<\/strong> Negotiations have started for Egypt to access USD 1.2 bn in long-term, low-cost climate financing from the IMF's Resilience and Sustainability Facility, the Environment Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EGY.Environment\/posts\/pfbid0hhcEDmEqmj5SPJaD6mWEc4iFJrRwsVdUEBrYujGM3t12fYC6JXz7pnZZvAXFN7zNl\" style=\"\" rel=\"noopener\">said<\/a> yesterday, following a meeting between Minister Yasmine Fouad and IMF mission chief for Egypt Ivanna Hollar. The USD 8 bn expanded facility <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/033d5dd6-d417-4ad7-8154-b113a19b96a7\" style=\"\" rel=\"noopener\">agreement<\/a> in March <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0f153a1-4a27-4cda-9c1d-6dfc4681517b\/imf-greenlights-the-dispersal-of-usd-820-mn-after-approving-expanded-usd-8-bn-loan-program.-plus:-eu-fastracks-eur-1-bn-of-aid-package\" style=\"\" rel=\"noopener\">opened up the right<\/a> for the country to apply for the additional low-cost climate financing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Our third loan review with the IMF scheduled for June <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72695007-0bdb-4085-b04c-093acab38347\/we-could-receive-the-second-tranche-of-our-imf-loan-in-june\" style=\"\" rel=\"noopener\">will also discuss<\/a> the climate financing package, Hollar said in April. \u201cTo qualify, countries need to have in place a strong set of policies that are intended to address the bases of climate change,\" she added<strong>.<\/strong><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2-<\/strong><strong>More Saudi investments ahead? <\/strong>A Saudi delegation spoke about upping investment and economic cooperation with high-level Egyptian officials including Prime Minister Moustafa Madbouly and Finance Minister Mohamed Maait, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid016iAodtZLjFudkCp2DqQEerAU6qmQFsar8LsoracG4AjGKkD9H5PMV1bcxrfcWtFl?__cft__[0]=AZXed-VDdPtawuLN0MK9INLIqyWSYdpH7mc8lBeWHWrTTO_kKDf-LpPGjdIfv1Q05vgcSyFPwaA0UJHlL9YeBrhBSupp3djZWLt37IepLoJ-ha4z-u08lDEooF6mldK-uH7aSTv3vtIqAcyNWQ6X4QqYsN91hthlPkr5Y9toBn3nNf-U-jze8PG2Z5h5J7Jam2ujpDvDdXhk2SRHjyCW-dzm&amp;__tn__=%2CO%2CP-R\" style=\"\" rel=\"noopener\">statement<\/a>. The two sides confirmed ongoing negotiations to open \u201careas for joint cooperation in various economic sectors.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:&nbsp;<\/strong>The Sovereign Fund of Egypt is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b5cd5d7-94eb-4391-bd8e-d6b1bd175704\/%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esovereign%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efund%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eegypt%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eis%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eheading%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eto%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egulf%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">off to the Gulf<\/a> next month to meet with investors, financial institutions, and other sovereign funds to discuss potential investments on offer and hopefully drum up some fresh inflows.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- In efforts to bring down inflation:<\/strong> The PM called for a directive to identify commodities that contribute the most to high inflation rates, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0uLdouDciBkzK6GkkHvce5PDNjHE9jKt5yoULVaJ874hJ8Qr1k9FAE1g2BP6qHMmSl\" style=\"\" rel=\"noopener\">statement<\/a>. Madbouly said that the government will hold meetings with the heads of the Egyptian Poultry Association, as well as officials in the fruit and vegetable sector, with the aim of reducing prices across some of the biggest identified contributors to higher inflation rates. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt5\"><\/a><strong>#4- Three new members aboard the regional industrial integration partnership?&nbsp;<\/strong>Oman is on track to join the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67794c02-4c1b-4d65-867d-863f039e6ccd\/\" style=\"\" rel=\"noopener\">Integrated Industrial Partnership<\/a> that includes Egypt, the UAE, Jordan, Bahrain, and Morocco, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=18052024&amp;id=c9f0bb69-d509-4db5-b9f3-e5b458a1973a\" style=\"\" rel=\"noopener\">Shorouk News<\/a> reports, citing an unnamed government source. Negotiations are also reportedly underway to welcome two additional countries into the fold. The initiative, which was launched back in May 2022, initially brought together Egypt, the UAE, and Jordan in a bid to support industrial integration between the three countries and boost sustainable growth. The member countries could also look into the possibility of conducting trade in their local currencies, the source said. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>WEATHER- The heat wave continues in Cairo today<\/strong>, with a high of 38\u00b0C and a low of 24\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s almost as hot in Alexandria<\/strong>, with a high of 34\u00b0C and a low of 22\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to subscribe?&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"tag-border-left\">HAPPENING TODAY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>The Egypt International Summit for Digital Transformation and Cybersecurity <\/strong><strong>kicks off today<\/strong> and continues until Tuesday at the Egypt International Exhibitions Centre. Launched by the people behind the FDC Summit and the Egypt Cybersecurity &amp; Defense Intelligence Systems, the three-day event will focus on integrating efforts and raising awareness on the importance of cybersecurity and digital transformation. Register for the event <a target=\"_blank\" href=\"https:\/\/fdcsummit.org\/register\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over 2k tourism industry professionals from across Africa are heading to Sharm <\/strong><strong>El Sheikh for the <\/strong><strong>Africa Tourism Forum<\/strong> that will run from Monday to Tuesday at the Sharm El Sheikh International Convention Center. Check out the schedule and register for the event <a target=\"_blank\" href=\"https:\/\/africatourismforum.com\/\" style=\"\" rel=\"noopener\">here<\/a>.<\/p>\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EBRD will head to Sharm El Sheikh for its 2027 annual meeting: <\/strong>Egypt is set to host and organize the annual meeting of the European Bank for Reconstruction and Development (EBRD) in 2027, after being selected to do so on Friday during the bank\u2019s 2024 annual meeting and business forum in Armenia, International Cooperation Minister Rania Al Mashat said a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/pfbid02McfQNgajRSeRZQLBJqBEeYgD1YFa8PhuhJN7p1trEtZAJS5uapRBvFPKzKZaHZaZl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a fairly quiet morning in the global business news<\/strong>, with one story dominating the front pages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>TROUBLE IN THE ISRAELI CABINET? <\/strong>Benny Gantz, a central member of Israel\u2019s three-man war cabinet, said he\u2019ll resign his post unless Prime Minister Benjamin Netanyahu adopts a new war plan by 8 June. Netanyahu called Gantz\u2019s ultimatum \u201cwashed-up words whose meaning is clear: the end of war and defeat for Israel, abandoning most of the hostages, leaving Hamas intact and the establishment of a Palestinian state.\u201d (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-18\/gantz-says-he-ll-quit-unless-netanyahu-shifts-to-a-new-gaza-plan?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/dozens-killed-wounded-israeli-forces-thrust-deeper-gazas-jabalia-rafah-2024-05-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/israel-palestinians-gaza-war-05-18-2024-3ac9d8e59198d5884d0faa6649a53e4f\" style=\"\" rel=\"noopener\">AP<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What would Gantz\u2019s departure mean? <\/strong>Gantz leaving \u201cwould leave Netanyahu even more beholden to far-right allies who have taken a hard line on negotiations over a cease-fire and hostage release, and who believe Israel should occupy Gaza and rebuild Jewish settlements there,\u201d <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/18\/member-of-israels-war-cabinet-says-hell-quit-the-government-june-8-unless-theres-a-new-war-plan.html\" style=\"\" rel=\"noopener\">CNBC<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Another Houthi attack in the Red Sea. <\/strong>A Panamanian-flagged oil tanker was hit by a Houthi anti-ship missile yesterday, US Centcom said in a <a target=\"_blank\" href=\"https:\/\/x.com\/CENTCOM\/status\/1791851421152743816\" style=\"\" rel=\"noopener\">statement<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>From the Dept. of Flying Cars:<\/strong> Chinese EV manufacturer XPeng\u2019s plans to deliver its flying car to customers in two years, the company\u2019s co-president told <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/17\/xpeng-aims-for-flying-car-pre-orders-this-year-with-delivery-in-2026.html\" style=\"\" rel=\"noopener\">CNBC<\/a>. The flying car \u2014 dubbed the Land Aircraft Carrier \u2014- will be available for people to pre-order this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND IN AI NEWS- <\/strong>OpenAI has <a target=\"_blank\" href=\"https:\/\/www.wired.com\/story\/openai-superalignment-team-disbanded\/\" style=\"\" rel=\"noopener\">disbanded<\/a> its long-term AI risk team less than a year after announcing it. The team was <a target=\"_blank\" href=\"https:\/\/openai.com\/index\/introducing-superalignment\/\" style=\"\" rel=\"noopener\">announced<\/a> in July with the aim to \u201cto steer and control AI systems much smarter than us.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends. We are kicking off the workweek with a packed issue, so let\u2019s jump right in. WATCH THIS SPACE- #1- USD 1.2 bn in green financing in the works: Negotiations have started for Egypt to access USD 1.2 bn in long-term, low-cost climate financing from the IMF's Resilience and Sustainability Facility, the Environment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":620256,"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":[7204],"tags":[72,272],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-imf","wpautop","entry"],"acf":{"mongo_id":"76a0a985-9e76-4ce5-a155-8bfa25b6f658","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/5\/1411.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt has kicked off negotiations with the IMF over a USD 1.2 bn green financing package","related_issue":[620253],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.dea29192-e51d-4551-95b1-fda52603219a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Negotiations have kicked off on our USD 1.2 bn green financing from the IMF - 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\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Negotiations have kicked off on our USD 1.2 bn green financing from the IMF\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. We are kicking off the workweek with a packed issue, so let\u2019s jump right in. WATCH THIS SPACE- #1- USD 1.2 bn in green financing in the works: Negotiations have started for Egypt to access USD 1.2 bn in long-term, low-cost climate financing from the IMF&#039;s Resilience and Sustainability Facility, the Environment [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=%2C&ssl=1\" \/>\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\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Negotiations have kicked off on our USD 1.2 bn green financing from the IMF\",\"datePublished\":\"2024-05-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\"},\"wordCount\":961,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1411.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"IMF\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/negotiations-have-kicked-off-on-our-usd-1-2-bn-green-financing-from-the-imf\/\",\"name\":\"Negotiations have kicked off on our USD 1.2 bn green financing from the IMF - 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to plug budget deficit, shore up reserves: The Madbouly government is in talks with international lenders for an additional USD 9 bn to help it plug its budget deficit as it spends bns to fight covid-19, Bloomberg reports, citing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571434,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/imf-greenlights-usd-2-8-bn-in-pandemic-aid-to-egypt\/","url_meta":{"origin":620255,"position":1},"title":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt: The International Monetary Fund\u2019s executive board signed off yesterday on the USD 2.77 bn rapid financing instrument (RFI) the Madbouly government asked for last month to help support its balance of payments as Egypt grapples with fallout from covid-19. \u201cThe\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574166,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/egypt-secures-usd-2-bn-loan-from-intl-banking-consortium\/","url_meta":{"origin":620255,"position":2},"title":"Egypt secures USD 2 bn loan from int\u2019l banking consortium","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"Egypt has closed a USD 2 bn financing package with regional and international banks to plug budget shortfalls resulting from the covid-19 crisis, Finance Minister Mohamed Mait said in a statement yesterday. The one-year facility is divided into two tranches: USD 1.5 bn offered on conventional terms and a USD\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/8.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572492,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/28\/imf-gives-final-nod-on-usd-5-2-bn-in-funding-to-egypt\/","url_meta":{"origin":620255,"position":3},"title":"IMF gives final nod on USD 5.2 bn in funding to Egypt","author":"enterpriseam admin","date":"28 June 2020","format":false,"excerpt":"The IMF has approved a one-year USD 5.2 bn standby loan for Egypt, helping the country plug a balance of payments shortfall and finance its budget deficit, the fund\u2019s executive board said in a statement on Friday. 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