{"id":664389,"date":"2025-04-29T00:00:00","date_gmt":"2025-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/aiib-to-provide-egypt-with-usd-300-mn-in-budget-support\/"},"modified":"2025-04-29T00:00:00","modified_gmt":"2025-04-29T00:00:00","slug":"aiib-to-provide-egypt-with-usd-300-mn-in-budget-support","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/aiib-to-provide-egypt-with-usd-300-mn-in-budget-support\/","title":{"rendered":"AIIB to provide Egypt with USD 300 mn in budget support"},"content":{"rendered":"

The Asian Infrastructure Investment Bank (AIIB) is putting together USD 300 mn in <\/strong>budget support for Egypt<\/strong>, Planning and International Cooperation Minister Rania Al Mashat told Bloomberg<\/a>. The agreement is expected to be finalized by June, Al Mashat said, adding that negotiations have been completed and that local authorities are \u201cjust going through the paperwork.\u201d<\/p>\n

The government is also pursuing several debt swap agreements <\/strong>aimed at lowering the country\u2019s external debt and improving its credit position, Al Mashat said, citing ongoing talks with Germany on a debt-for-equity swap that could see Berlin invest in energy-transition projects.<\/p>\n

Slashing Chinese debt is also part of the plan<\/strong>, after local and Chinese authorities last week discussed a debt-for-development swap that seeks to convert a portion of Egypt's debt into interest-free loans to finance development projects. An Investment Ministry statement<\/a> indicated that the talks were part of \u201cexisting cooperation\u201d on the matter between the two countries, without laying out any specifics.<\/p>\n

DATA POINT- 6.1% of our external debt is owed to the Chinese,<\/strong> totalling USD 9.4 bn, as of June, according to the most recent figures from the central bank (pdf)<\/a>.<\/p>\n

The news follows reports that Kuwait is considering converting <\/strong>USD 4 bn of deposits<\/a><\/strong> it<\/strong> holds in the central bank into direct investments<\/strong> in several local sectors out last week. And of course, before this an agreement was inked with Abu Dhabi wealth fund ADQ last year<\/a> that converted USD 11 bn of UAE deposits at the CBE into investments in the USD 35 bn Ras El Hekma project.<\/p>\n

The end goal? <\/strong>The government aims<\/a> to bring down the debt-to-GDP ratio to 80% by the end of June 2026 and to lower the external debt by USD 1-2 bn annually.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreement is expected to be finalized by June<\/p>\n","protected":false},"author":1,"featured_media":664390,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7576],"tags":[2399,7106,101,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-asian-infrastructure-investment-bank","tag-debt","tag-development-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"670b825d-57e3-4db2-a575-9668da9d5594","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1485.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AIIB to provide Egypt with USD 300 mn in budget support","related_issue":[664381],"teaser":"The agreement is expected to be finalized by June","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.a4d695c4-503a-485a-b6f7-29dfb4f56b53.mp3"},"yoast_head":"\nAIIB to provide Egypt with USD 300 mn in budget support - 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This Monday brings a slew of budget news, and more international coverage of Trump\u2019s tariff-induced trade war. We might be seeing unrelated (directly, at least) changes to AI subscription prices \u2014 read ahead for the full picture.THE BIG STORY TODAY Egypt is closing in on USD 300\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1485.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555719,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy\/","url_meta":{"origin":664389,"position":1},"title":"AIIB approves USD 360 mn loan to support Egypt\u2019s post-covid economy","author":"enterpriseam admin","date":"24 November 2021","format":false,"excerpt":"We\u2019re getting a USD 360 mn loan from AIIB: The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement.The facility matches a separate USD 360 mn loan approved by the World Bank in October, under\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/581.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589291,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/25\/aiib-is-a-potential-guarantor-for-our-next-green-bonds-sale\/","url_meta":{"origin":664389,"position":2},"title":"AIIB is a potential guarantor for our next green bonds sale","author":"enterpriseam admin","date":"25 June 2023","format":false,"excerpt":"This would be AIIB\u2019s first guarantee of a country\u2019s green bonds issuance","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590197,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/","url_meta":{"origin":664389,"position":3},"title":"AIIB to provide EUR 250 mn loan for Abu Qir metro project","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/551.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586710,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/16\/al-baraka-bank-secures-usd-30-mn-in-green-funding-from-isdb-plus-italy-debt-swap-agreement-extension\/","url_meta":{"origin":664389,"position":4},"title":"Al Baraka Bank secures USD 30 mn in green funding from IsDB. PLUS: Italy debt swap agreement extension?","author":"enterpriseam admin","date":"16 May 2023","format":false,"excerpt":"Green SME-led projects to receive funding from IsDB: Al Baraka Bank Egypt will receive USD 30 mn in sharia-compliant funding from the Islamic Development Bank (IsDB) for on-lending to green projects, the bank said yesterday. The five-year financing agreement was signed with the IsDB\u2019s private-sector development arm during its annual\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/864.jpg?fit=%2C&ssl=1&resize=350%2C200","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":664389,"position":5},"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 "DEBT WATCH"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664389","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=664389"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664389\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664390"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664389"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664389"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}