The Ismail government approved in principle yesterday amendments to the Auctions and Tenders Act that would decentralize tender procedures and streamline the selection process for winning bids, according to a Cabinet statement. The amendments, which we took note of in June, will promote two-stage tenders to give the government more options when choosing contractors and suppliers, while also curbing spending by placing restrictions on the amount bodies can pay out in a tender. The amendments will now be sent over to the House of Representatives for passage.

Cabinet also signed off on a EUR 290 mn facility from the European Bank for Reconstruction and Development (EBRD) to help finance the Egyptian National Railway’s purchase of 100 new locomotives. Other key decisions include:

• Granting preliminary approval to set up the Upper Egypt Development Authority to follow up on investments and projects;
• Sanctioning the establishment of the Golden Triangle Special Economic Zone Authority;
• Approving amendments to the Environment Law’s executive regulations.