Economy Egypt’s sovereign fund says 44 projects worth $7.3bn under study By Pramod Kumar September 19, 2022, 5:38 AM Reuters/Amr Abdallah Dalsh Egypt's sovereign fund has signed binding agreements for 10 projects in 2021 worth EGP 25.5 billion. Sovereign Fund of Egypt is currently studying 44 projects worth EGP 140 billion ($7.34 billion) in seven sectors, the Egypt Times newspaper reported, citing the fund’s executive director Ayman Soliman. The fund last year signed binding agreements for 10 projects worth EGP 25.5 billion ($1.34 billion), he said. The investments are in utilities and infrastructure, tourism, real estate investment, antiquities development, financial services and digital transformation, education and industry sectors. In March, the International Monetary Fund announced that Egypt had requested a new financial support programme, but needed to make “decisive progress” on fiscal and structural reform. Egypt has suffered economic shocks repeatedly, including at the onset of the COVID-19 pandemic and after Russia invaded Ukraine. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
