{"id":625506,"date":"2018-08-07T03:27:25","date_gmt":"2018-08-07T03:27:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/07\/world-bank-agency-to-increase-financing-to-egypts-private-sector-over-the-next-three-years\/"},"modified":"2018-08-07T03:27:25","modified_gmt":"2018-08-07T03:27:25","slug":"world-bank-agency-to-increase-financing-to-egypts-private-sector-over-the-next-three-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/07\/world-bank-agency-to-increase-financing-to-egypts-private-sector-over-the-next-three-years\/","title":{"rendered":"World Bank agency to increase financing to Egypt\u2019s private sector over the next three years"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> The right kind of debt is a good thing, so we\u2019re going to cheer this: <strong>More debt is in the works as World Bank agency plans to increase financing to Egypt\u2019s private sector over the next three years. <\/strong>The World Bank Group\u2019s (WBG) Multilateral Investment Guarantee Agency (MIGA) expects to expand its financing of private sector projects in Egypt over the next three years, Executive Vice President and CEO Keiko Honda told Investment Minister Sahar Nasr in a meeting yesterday. Keiko did not provide details on the size of the funding packages or types of projects the agency would target. MIGA has already provided projects in the Benban solar power complex with some USD 210 mn in funding and extended oil producer Apache around USD 150 mn to support exploration and production activity, <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%88%D9%83%D8%A7%D9%84%D8%A9-%D8%B6%D9%85%D8%A7%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D9%85%D9%8A%D8%AC%D8%A7-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%AD%D8%AC%D9%85-%D9%85%D8%AD%D9%81%D8%B8%D8%A9-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%86%D8%A7-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D9%88%D8%AD%D8%B1%D9%8A%D8%B5%D9%88%D9%86-%D8%B9%D9%84%D9%89-%D8%B6%D8%AE-%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D9%84%D9%803-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84%D8%A9.aspx\">according to an Investment Ministry statement<\/a>.<\/p>\n<p><strong>Nasr also met with International Finance Corporation MEA Vice President S\u00e9rgio Pimenta yesterday<\/strong> on the sidelines of the WBG and IMF\u2019s 2018 African Caucus meetings. Pimenta said the IFC, which has <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/24\/ifc-pledges-usd-2-bn-in-funding-to-egypts-private-sector-until-2019\/\">pledged USD 2 bn in funding<\/a> to Egypt\u2019s private sector until 2019, was interested in extending further support to the renewable energy industry. The commitment that lending institutions such as the IFC have shown to Egypt\u2019s renewable energy projects has helped <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/11\/ifc-ebrd-commitment-to-renewables-in-egypt-has-attracted-investors-funds-to-the-sector\/\">attract much needed funds<\/a> into the sector.<\/p>\n<p><strong>IMF \/ World Bank Africa summit issue \u201cSharm El Sheikh Declaration\u201d: <\/strong>The end of the <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%89-%D9%88%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%8A%D8%A4%D9%83%D8%AF%D8%A7%D9%86-%D8%AF%D8%B9%D9%85%D9%87%D9%85%D8%A7-%D9%84%D9%85%D8%B5%D8%B1-%D9%81%D9%89-%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D8%A7%D9%81%D8%B1%D9%8A%D9%82%D9%89.aspx\">African Caucus meetings in Sharm El Sheikh<\/a> yesterday saw officials from the continent issuing the \u201cSharm El Sheikh declaration\u201d calling for further lending from the World Bank and IMF to support infrastructure development in Africa. They also agreed to increase cooperation in fields including infrastructure development, agriculture, energy, fintech and mobile payments and exports.<\/p>\n<p><strong>For their part, IMF and World Bank officials promised to extend further credit to the continent<\/strong>, <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%89-%D9%88%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%8A%D8%A4%D9%83%D8%AF%D8%A7%D9%86-%D8%AF%D8%B9%D9%85%D9%87%D9%85%D8%A7-%D9%84%D9%85%D8%B5%D8%B1-%D9%81%D9%89-%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D8%A7%D9%81%D8%B1%D9%8A%D9%82%D9%89.aspx\">according to a statement<\/a> from the Investment and International Cooperation Ministry. World Bank Vice President of the World Bank for Africa Hafez Ghanem noted that the WB plans to provide USD 18 bn in new financing to African countries in 2018, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=06082018&id=ed36e31e-2ffd-478d-8bbd-72ff438180ca\">according to Al Shorouk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The right kind of debt is a good thing, so we\u2019re going to cheer this: More debt is in the works as World Bank agency plans to increase financing to Egypt\u2019s private sector over the next three years. The World Bank Group\u2019s (WBG) Multilateral Investment Guarantee Agency (MIGA) expects to expand its financing of private [&hellip;]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625506","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ad3abaf7-171f-4c9d-a3a1-331b4ab7431f","order":"0","is_powered_by":true,"section_story_id":"2375554a-4d92-45de-ae7e-dff03b2f8e5c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625496],"teaser":"","voice_url":""},"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>World Bank agency to increase financing to Egypt\u2019s private sector over the next three years - 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\/2018\/08\/07\/world-bank-agency-to-increase-financing-to-egypts-private-sector-over-the-next-three-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank agency to increase financing to Egypt\u2019s private sector over the next three years\" \/>\n<meta property=\"og:description\" content=\"The right kind of debt is a good thing, so we\u2019re going to cheer this: More debt is in the works as World Bank agency plans to increase financing to Egypt\u2019s private sector over the next three years. 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The documents appear to\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634305,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/world-banks-miga-to-provide-usd-102-6-mn-in-guarantees-for-six-solar-plants-in-egypt\/","url_meta":{"origin":625506,"position":1},"title":"World Bank\u2019s MIGA to provide USD 102.6 mn in guarantees for six solar plants in Egypt","author":"enterpriseam admin","date":"11 January 2018","format":false,"excerpt":"The World Bank\u2019s Multilateral Investment Guarantee Agency (MIGA) is providing USD 102.6 mn in guarantees for six solar plants in Egypt with a combined production capacity of 250 MW, Renewables Now reports. The funding acts as security \u201cagainst the risks of expropriation, transfer restriction and inconvertibility, breach of contract and\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542810,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/egypt-takes-out-usd-10-3-bn-of-development-loans-in-2021\/","url_meta":{"origin":625506,"position":2},"title":"Egypt takes out USD 10.3 bn of development loans in 2021","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Egypt borrowed USD 10.3 bn from bilateral and multilateral lenders in 2021, according to the International Cooperation Ministry\u2019s annual report (pdf) published yesterday. Most of the funding \u2014 USD 8.7 bn \u2014 went to the public sector, while the remaining USD 1.6 bn went to private-sector initiatives.The key public sector\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556556,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/world-bank-okays-usd-360-mn-loan-for-egypts-post-covid-recovery\/","url_meta":{"origin":625506,"position":3},"title":"World Bank okays USD 360 mn loan for Egypt\u2019s post-covid recovery","author":"enterpriseam admin","date":"31 October 2021","format":false,"excerpt":"We\u2019re getting a fresh USD 360 mn World Bank loan: The World Bank has approved a USD 360 mn facility to support the Egyptian economy as it recovers from the covid pandemic, the global lender said in a statement(pdf) on Thursday. The development policy financing (DPF) loan will be used\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575167,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/eib-approves-eur-750-mn-loan-for-egypts-smes-world-bank-mulls-railway-funding\/","url_meta":{"origin":625506,"position":4},"title":"EIB approves EUR 750 mn loan for Egypt\u2019s SMEs, World Bank mulls railway funding","author":"enterpriseam admin","date":"5 October 2020","format":false,"excerpt":"DEBT WATCH- The European Investment Bank (EIB) has approved a EUR 750 mn facility for Banque Misr to on-lend to SMEs impacted by the covid-19 pandemic to finance working capital, according to the bank\u2019s website. The facility has been in the pipeline since mid-August. The EIB signed off in July\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641403,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/20\/miga-to-provide-guarantees-worth-usd-210-mn-for-fit-projects\/","url_meta":{"origin":625506,"position":5},"title":"MIGA to provide guarantees worth USD 210 mn for FiT projects","author":"enterpriseam admin","date":"20 September 2017","format":false,"excerpt":"The World Bank\u2019s Multilateral Investment Guarantee Agency (MIGA) approved providing guarantees worth USD 210 mn for feed-in-tariff projects in Benban, according to an Investment Ministry statement. The guarantees will go to six consortiums of local and international companies developing 11 solar power plants. This is the first such decision from\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"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\/625506","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=625506"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625506\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625496"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625506"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625506"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}