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Sunday, 9 December 2018

Cabinet likes amended Customs Act, Egypt to receive EUR 148 mn from EBRD

CABINET WATCH- Cabinet gives preliminary nod to Customs Act amendments: The Madbouly Cabinet has approved “in principle” amendments to the Customs Act, according to a statement. The amendments should create an expedited track for customs clearance, a ‘whitelist’ of trusted importers, and broaden the Customs Authority’s discretion. The government is expected to introduce the proposed changes to the House of Representatives “soon.”

Other decisions made at the cabinet table during the Council of Ministers’ meeting last week:

  • Signing off on an EUR 148 mn facility for the Kitchener Drain depollution project from the EBRD (we have more above);
  • Accepting a EUR 4.01 mn grant to support entrepreneurs in the agriculture, ‘clean’ and renewable energy, and arts and handicrafts industries;
  • A USD 600k grant from the Korea-Africa Economic Cooperation development fund for a wastewater treatment plant in Abu Rawash;
  • The Promoting Resilience in Desert Environments (PRIDE) project to improve the productivity of desert land reclaimed in rural areas around Marsa Matrouh.

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