Skip to content Skip to Search
Skip navigation

Egypt’s sovereign fund says 44 projects worth $7.3bn under study

By Pramod Kumar
Reuters/Amr Abdallah Dalsh
Egypt's sovereign fund has signed binding agreements for 10 projects in 2021 worth EGP 25.5 billion.

Sovereign Fund of Egypt is currently studying 44 projects worth EGP 140 billion ($7.34 billion) in seven sectors, the Egypt Times newspaper reported, citing the fund’s executive director Ayman Soliman.

The fund last year signed binding agreements for 10 projects worth EGP 25.5 billion ($1.34 billion), he said.

The investments are in utilities and infrastructure, tourism, real estate investment, antiquities development, financial services and digital transformation, education and industry sectors.

In March, the International Monetary Fund announced that Egypt had requested a new financial support programme, but needed to make “decisive progress” on fiscal and structural reform.

Egypt has suffered economic shocks repeatedly, including at the onset of the COVID-19 pandemic and after Russia invaded Ukraine.

Latest articles

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Thani Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, (UAE) speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said 'Malaysia offers substantial opportunity for our exporters, industrialists and business leaders' UAE Malaysia Cepa

UAE and Malaysia sign Cepa to increase bilateral trade

The UAE and Malaysia have signed a free trade deal, bringing the number of deals the Gulf state has agreed with foreign governments to 12. The comprehensive economic partnership agreement (Cepa) will seek to eliminate or reduce tariffs, lower trade barriers, increase private sector collaboration and create new investment opportunities, the two countries said in a […]

Modern buildings in the city center of Riyadh, Saudi Arabia

Riyadh leads Saudi Arabia’s hot property market

Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […]

Adnoc LNG

Adnoc drops plan to upgrade UAE’s only LNG facility

An upgrade of the Das Island liquefied natural gas plant has been cancelled by Adnoc Gas, as it shifts priorities towards greenfield developments. “We have a funnel of exciting opportunities in which we can invest while at the same time exercising capital discipline,” Adnoc Gas said. Das Island’s liquefaction and export terminal, the only LNG […]