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Sunday, 1 October 2017

What we’re tracking this week

A delegation from the African Development Bank arrives in Cairo tomorrow for a six-day visit to discuss the budgetary support program with the government, Al Mal reports. The bank will discuss cooperation with Egypt ahead of disbursing the last USD 500 mn tranche of the USD 1.5 bn agreement it signed with Egypt. AfDB says the tranche will be disbursed before year-end, Al Shorouk notes.

Are we less than a month from a nuke agreement with Russia? Egypt’s Council of State will reportedly be sending the four revised contracts of the Dabaa nuclear power plant agreement to the presidency on Monday, sources tell Al Borsa. Amendments to the contracts have already been approved and the presidency is set to review the contracts and set a date for the signing they add.

This could be happening as early as this month, unnamed officials tell Al Masry Al Youm. The signing, which Russian President Vladimir Putin is set to attend, is likely to take place on 21 October, during the commemoration of the 75th anniversary of World War II’s Battle of Alamein, the official added. It was rumored the contracts would be signed in two months’ time.

Our hunch is that we should hear soon after on restoring Russian flights. So far, there’s nothing new on that front, Aviation Minister Sherif Fathy told reporters yesterday.

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