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Monday, 7 August 2017

On the horizon

The government will sign for a USD 60 mn tranche of funding from the European Bank for Reconstruction and Development (EBRD) next week as part of a USD 500 mn pledge to finance private sector development projects, said Investment and International Cooperation Minister Sahar Nasr (pdf). The announcement came during the signing of a USD 1.9 mn agreement with the Electricity Ministry for the EBRD to provide consulting services to the ministry.

The Electricity Ministry also signed for EGP 2 mn in funding to de-mine 11k feddans in Matrouh governorate at the site of the mythical Dabaa nuclear plant, as per instructions from President Abdel Fattah El Sisi.

Speaking of Dabaa (or our version of the Yeti): The Egyptian Council of State (Maglis El Dawla) will apparently begin reviewing the Dabaa contracts next month, government sources tell Al Borsa. The council will form a special committee to look into the documents. We’ve been hearing that the Maglis has had these contracts since early last month.

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