Banking & Finance Egypt signs $595m financing pacts for economic development By Pramod Kumar October 20, 2022, 5:44 AM NurPhoto/Mahmoud Elkhwas Egypt has completed development financing pacts with multilateral and bilateral development partners worth $20 billion in the past two years Egypt has approved three development financing agreements with the World Bank Group, French Agency for Development and Spain worth $595 million, Egypt Today newspaper reported. The new financing will improve the wheat supply chain, reduce waste and improve farm access to local grain markets by providing financing to the Silos Holding Company to design, build and expand grain silos and modernise silos management and information systems. The report said the agreement will further enhance farm resilience and boost local production of sustainable cereals through research and development and high-yielding wheat varieties, among other initiatives. Moreover, the parliament approved the agreement between the Ministry of International Cooperation and the French Development Agency on a project to develop the Tanta-Mansoura-Damietta railway. They also approved an agreement with Spain to finance a project to strengthen the capabilities of the Women’s Complaints Office. In the past two years, the ministry has completed development financing agreements with multilateral and bilateral development partners worth $20 billion, the report said.
Real Estate ‘Safe’ Sharjah attracts Kuwaiti investors to $950m project The emirate of Sharjah has been praised as “safe and business-friendly” by a Kuwaiti developer who has formed a partnership to develop a AED3.5 billion ($950 million) housing project in its burgeoning local property market. Talal Al-Bahar, vice-chairman and CEO of Kuwait Real Estate Company (Aqarat), said that investors were attracted to Sharjah because of […] 12 hours ago
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Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] 14 hours ago
