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Egypt's Cabinet approved on Wednesday a €940,000 grant offered by the European Bank for Reconstruction and Development to upgrade rail freight transport.

Egypt's Gov't approves € 940K grant to upgrade rail freight transport

British investments in Egypt hit $47.4 billion through 1816 companies operating in the state, the Ministry of Investment and International Cooperation stated on Monday

British Investments in Egypt reach $47.6B

The US dollar exchange rate maintained its downward trend during transactions at major banks on Monday.

Dollar exchange rate maintains downward trend at Egypt's major banks

The Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Sunday that the consumption of oil products and natural gas decreased from 79.3 million tons in 2016/2017 to reach 79.1 million tons in 2017/2018 recording a reduction rate of

Consumption of oil products, natural gas decrease by 0.26 percent during 2017/2018

Ministry of Trade and Industry

EU allocates €1.1B annually for Egypt’s developmental projects

United States Commits an Additional $16.5 Million to Education and Agribusiness in Egypt - Press photo

United States Commits an Additional $16.5 Million to Education and Agribusiness in Egypt

Hany Abou-el-Fotouh, economic expert and Head of Corporate Affairs at MIDAF Investments - Press Photo

Egypt attracts foreign investments esp. after gov't offered incentives to investors: MEDAF

Egypt is expected to achieve a budget deficit of 7.2 percent in the current fiscal year, compared to around 13 percent 3 years ago, Finance Minister Mohamed Ma’it said during his speech at Euromoney conference.

Egypt expected to achieve budget deficit of 7.2% in current fiscal year

The Micro, Small and Medium Enterprises Development Agency (MSME) provided funds amounting to LE 50 billion during the period from 1991 to July 2018. Director of the Central Credit Department at (MSME) Hazem Salah announced.

MSME provides funds of LE46B to small and medium enterprises during 1991-2018

President of the German Mittelstand Association of Small and Medium-Sized Enterprises (BVMW) Mario Ohoven hailed on Thursday the growing Egyptian economy.

Germany's BVMW president praises growing Egyptian economy

World Bank Chief Executive Officer Kristalina Georgieva stated on Tuesday that Egypt sets an example for any country that would like to adopt an economic reform program.

WB CEO hails Egypt's economic reform program.

Egypt's Cabinet approved 17 oil and gas exploration and production agreements.

Egypt's cabinet approves 17 oil and gas E&P agreements

Egypt was ranked the fastest growing startup ecosystem in the Middle East and North Africa and the second largest after UAE, according to a report by start-up platform MAGNiTT.

How does Egypt support entrepreneurship?

In an article reviewing the Egyptian economic situation, Financial Times wrote about how Egypt turned to be the economic safe haven for investors and entrepreneurs from being “in an abyss three years ago”.

Financial Times: Egyptian economy hailed as one of the region’s fastest-growing economies

The US topped the list of G7 importers of Egypt's products with imports estimated at $1 billion in January-June 2019, followed by Italy and the UK with imports totaling $951.7 million and $719.1 million in the same period, it added.

US tops list of G7 importers of Egypt with imports estimated at $1 billion in Jan-June 2019: CAPMAS

Micro, Small and Medium Enterprise Development Agency’s (MSMEDA) loans to women reached 84.98 percent in four years, the Egyptian Cabinet stated Wednesday.

Egypt's MSMEDA loans to women hiked 84.98 % in 4 years

Egypt’s recovery has turned it into the Middle East’s fastest-growing economy following three years of reforms enacted to secure a $12 billion loan from the International Monetary Fund, Bloomberg said in a report Wednesday.

Bloomberg: Economic reforms turns Egypt into Middle East’s fastest-growing economy

Egypt's government is pumping a $1.2 billion (LE 21 Billion) investment to promote the added value of Egyptian cotton, in an effort to develop the country’s textile industry.

Egypt pumps $1.2B to promote cotton sector

Egypt’s Small and Medium Enterprises Development Agency (MSMEDA) stated that it has pumped in the first half of 2019 a sum of LE 2.8 billion to support around 110,000 micro and small enterprises.

Egypt’s MSMEDA pumps EGP 2.8 B into micro, small enterprises in first half of 2019

Egypt and the European Bank for Reconstruction and Development (EBRD) signed on Monday two grants allocated to projects of renovating locomotives and developing the railway freight system worth €1.5 million (LE 28 million).

Egypt, EBRD sign two €1.5M grants for projects of renovating locomotives and railway freight system worth €1.5 million

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U.S. – Egypt Relationship
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