{"id":667108,"date":"2025-06-19T00:00:00","date_gmt":"2025-06-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/19\/the-european-parliament-gives-its-final-greenlight-to-eur-4-bn-loan-plus-ischool-state-grid-ci-capital-egyptair\/"},"modified":"2025-06-19T00:00:00","modified_gmt":"2025-06-19T00:00:00","slug":"the-european-parliament-gives-its-final-greenlight-to-eur-4-bn-loan-plus-ischool-state-grid-ci-capital-egyptair","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/19\/the-european-parliament-gives-its-final-greenlight-to-eur-4-bn-loan-plus-ischool-state-grid-ci-capital-egyptair\/","title":{"rendered":"The European Parliament gives its final greenlight to EUR 4 bn loan. PLUS: iSchool, State Grid, CI Capital, EgyptAir"},"content":{"rendered":"

\n

DEBT-<\/p>\n

The European P<\/strong>arliament gave its final approval to the EU Commission's proposal to <\/strong>grant Egypt a EUR 4 bn loan<\/strong>, according to a Foreign Ministry statement<\/a>. The decision was passed during a plenary session yesterday, with 386 out of 567 MEPs voting in favor. The funds got preliminary approval from the European Parliament in April<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

REMEMBER-<\/strong> We\u2019ve been waiting for updates on the funds \u2014 part of a broader EUR 5 bn macro-financial assistance package agreed in March 2024 \u2014 since EU Ambassador to Cairo Angelina Eichhorst said last month<\/a> that they could land in state coffers within weeks. <\/p>\n

What\u2019s next?<\/strong> The European Council is expected to vote on the decision in the coming days, according to the statement.<\/p>\n

\n

M&A WATCH-<\/p>\n

Local edtech startup <\/strong>iSchool<\/a><\/strong> expanded its KSA presence with the acquisition of <\/strong>Saudi-Egyptian <\/strong>Algoriza\u2019s<\/a><\/strong> edtech arm Seeds<\/strong>, the AI and coding education platform said in a statement<\/a>. \u201cSeeds brings incredible local momentum, and together we\u2019re able to unlock national impact at scale,\u201d said iSchool CEO Muhammad Gawish. The value of the investment was not disclosed.<\/p>\n

REMEMBER-<\/strong> In late 2023<\/a>, iSchool announced its plans to expand across the GCC \u2014 namely in Saudi Arabia, the UAE, Oman, Qatar, Kuwait, and Bahrain \u2014 with sub-Saharan Africa in the cards for 2025.<\/p>\n

\n

RENEWABLES-<\/p>\n

The cabinet greenlit a proposal from China\u2019s state-owned utility giant State Grid for two <\/strong>solar projects totaling 900 MW<\/strong>, according to a cabinet statement<\/a>. The first project will be in the Minya governorate with a capacity of 500 MW, while the second will be located in the Al Wahat region, will hold a capacity of 400 MW. You may not have heard of them before, but State Grid is the world\u2019s third largest company by revenue, behind only Walmart and Amazon.<\/p>\n

\n

CAPITAL MARKETS-<\/p>\n

CI <\/strong>Capital <\/strong>Ass<\/strong>et Management<\/strong> launched Egypt\u2019s first ESG equity fund<\/strong>, which the firm calls Misr Green \u2014 Sustainability (ESG) Fund, it said in a statement (pdf)<\/a>. The fund will invest in sustainability-compliant EGX stocks and is the first ESG product to be made available through local banking platforms. The fund opened the subscription door yesterday.<\/p>\n

\n

AVIATION-<\/p>\n

EgyptAir will purchase another six new A350-900 aircraft from French planemaker Airbus<\/strong>, upping its total order to 16, the national flag carrier said in a statement<\/a>. Deliveries are expected to run from 2025 to the early 2030s, according to industry publication Air Guide<\/a>.<\/p>\n

The company also purchased SIX additional Trent XWB-84 engines from British engine <\/strong>maker Rolls-Royce<\/strong> to power its six newly ordered aircrafts, according to a separate statement<\/a> from the company. EgyptAir\u2019s order for the engine now stands at 32 units.<\/p>\n","protected":false},"excerpt":{"rendered":"

A total of 386 out of 567 MEPs voted in favor of approving the loan<\/p>\n","protected":false},"author":1,"featured_media":667109,"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":[7209],"tags":[3172,111,102,136,401,73,68,880,72,11882,2053,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-667108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-airbus","tag-also-on-our-radar","tag-capital-markets","tag-ci-capital","tag-edtech","tag-education","tag-egx","tag-egyptair","tag-enterpriseam","tag-ischool","tag-outsourcing","tag-startups","wpautop","entry"],"acf":{"mongo_id":"ceccf336-90d6-4e50-9b4c-a106d8f3e53a","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/665.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The European Parliament gives its final greenlight to EUR 4 bn loan. 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The company has also taken out a EGP 3 bn loan from the National Bank of Egypt as well as\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":546668,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/mps-greenlight-eur-250-mn-ebrd-alex-metro-loan\/","url_meta":{"origin":667108,"position":1},"title":"MPs greenlight EUR 250 mn EBRD Alex metro loan","author":"enterpriseam admin","date":"24 May 2022","format":false,"excerpt":"EBRD Alex metro loan gets House approval: MPs have approved a EUR 250 mn loan from the European Bank for Reconstruction and Development (EBRD) to finance the conversion of the Abu Qir railway into an electrified metro line, Al Shorouk reports. 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