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Foreign Investment

MOICMin signs letter of intent with EU, directs €35M to EBRD

During her speech at the announcement yesterday, Al-Mashat explained that the letter will provide development grants to the EBRD to develop and promote investment in renewable energy and electricity generation

Qatar’s sovereign fund, QIA, reportedly deposits $1B in CBE

In mid-October, Bloomberg also reported that the QIA had entered advanced talks to invest $2.5 billion in a number of local companies, including Vodafone Egypt

Flexible exchange rate will protect economy from external shocks | IMF’s Azour

“The measures that the central bank took last week in hiking interest rates...goes in the right direction. It's very important to control inflation," Azour explained

Egypt finalizes agreement with IMF for $3B to run over 46 months

Egypt will also receive $5 billion from international partners and $1 billion from a sustainable fund which will help the country finance its external funding gap

SODIC returns to M&A scene with offer for Orascom Real Estate

SODIC aims to fully acquire the company from parent company Orascom Development Egypt, according to a statement to the Egyptian Exchange (EGX) today