Back to the complete issue
Monday, 13 August 2018

Egypt seeks USD 2 bn in funding for education reform

Egypt seeks USD 2 bn in funding for education reform: The government is apparently holding talks with international development partners for USD 2 bn in new facilities to fund its drive to reform K-12 education in Egypt, according to World Bank documents seen by El Masdar. The documents appear to say that the EU, the German international development agency (GIZ), and the German development bank (KfW) have all expressed interest in participating in funding the education reforms. The World Bank had signed a USD 500 mn loan agreement with the government to fund the education reforms.

MIGA gearing up to issue USD 300-400 mn-worth of assurances for Egypt projects: Meanwhile, The World Bank Group’s (WBG) Multilateral Investment Guarantee Agency (MIGA) is preparing to issue new financial guarentees worth USD 300-400 mn for various projects in Egypt, WBG’s Alternate Executive Director Ragui El-Etreby tells Al Mal. MIGA, which had provided USD 102.6 mn in assurances for six solar power plants in Egypt back in January, had said last week that the agency intends to expand its financing for private sector projects in Egypt over the next three years.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.