Egyptian Government Allocated USD 500 Million in Foreign Investments

The Ministry of Finance has recently allocated USD 500 million in foreign investments for educational and healthcare initiatives.

The investments were allocated from three different financial institutions, namely Deutsche Bank, Bahrain-based bank ABC, and Kuwait-based Arab Investment and Export Credit Guarantee Corporation, also known as Dhaman.

This marks the government’s first venture into development finance with the multilateral financial institution Dhaman, which offers low-cost financing options. Meanwhile, the government aims to secure USD 3 billion in financing from various external markets by the end of 2023 to meet its financial requirements.