Eng. Mohamed Ahmed Morsi, Minister of State for Military Production, and Dr. Tariq Rahmi, Governor of Gharbia, witnessed the signing ceremony of two cooperation contracts between the Military Production Company for Projects, Engineering Consultations and General Supplies and the Gharbia Governorate. The two contracts were signed by Dr. Ahmed Atta, Deputy of Gharbia Governor, and Eng. Majed Al Sarti, Chairman & CEO of the Military Production Company for Projects and Engineering Consultations at the headquarters of the Ministry of Military Production's General Office, to implement a number of development projects in Gharbia Governorate. He added that this signature comes in light of the cooperation protocol signed last March between the National Authority for Military Production and the Gharbia Governorate, with a view to maximizing the economic, social and investment benefits of some lands that fall within the scope of the geographical space of Gharbia Governorate, and developing them to establish many investment and development projects. The Minister of Military Production added that within the framework of the signing of these two contracts, an investment project consisting of a hotel and restaurants complex in the "Old Traffic" land would be established, marketed and run, and another investment project would be established on the "Beau Rivage Land" consisting of a three-storey underground garage, a commercial...
2020-12-17 15:23:08
Banque Misr signed a cooperation protocol with the Housing and Development Bank (HDB), with a view to setting up mechanisms for joint cooperation to establish and market major residential, commercial and administrative projects. Mr. Mohamed El-Etrebi, Banque Misr COB and Executive manager signed the protocol with Mr. Hassan Ghanem, Chairman of the Board of Directors of the Housing and Development Bank.The signing of the protocol comes within the framework of the implementation of the general policy pursued by the state, which aims to expand the establishment of major projects, especially those that lead up to providing housing and job opportunities. Banque Misr owns many distinguished land plots that are suitable for establishing projects (residential / commercial / administrative / entertainment) and the Housing and Development Bank (HDB) has extensive experience in the field of constructing and marketing distinguished residential, commercial, administrative and entertainment projects everywhere in Egypt, and it has specialized calibers qualified enough to carry out such Projects. Based on the vital role of Egyptian banks in advancing and driving the economy, the agreement allows granting financing to unit buyers within the framework of the laws and regulations governing the real estate market in Egypt. It must be noted that real estate financing is granted in a way that serves all segments of citizens to achieve public benefit for all parties of the sys...
2020-11-12 15:29:43
Minister of International Cooperation and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD), Rania Al-Mashat, has met with Heike Harmgart, EBRD managing director for the Southern and Eastern Mediterranean (SEMED) region, at the ministry’s headquarters in the presence of vice president of the bank's regional office in Egypt, Khalid Hamza, to discuss the EBRD’s new green recovery strategy. “Egypt is looking forward to strengthening economic relations with the bank within the framework of its new strategy for 2021-2025, which is based on three main outcomes: supporting the transition to a green economy, enhancing environmental sustainability and reducing carbon emissions, as well as promoting equal opportunities for women and accelerating the pace of digital transformation,” said Al-Mashat. During the meeting, Al-Mashat praised strategic cooperation relations between Egypt and the EBRD and its contributions to financing several diverse development projects over the recent period, adding that Egypt was marked as the largest country of the bank’s operations in 2019 with total investments of €2.3 billion, 60 percent of which was dedicated to the private sector. For her part, Harmgart said that the EBRD is eager to support the national development priorities of Egypt, particularly with regards to directing more support to the private sector and investing in the green economy. She also praised the...
2020-11-19 17:37:07
Agreement on financing a number of infrastructure projects in the field of transport worth € 1,128 billion: LTG Eng. Kamel El-Wazir - Minister of Transport, met with officials of the European Investment Bank (via video conference) to discuss cooperation in various transportation fields. The meeting was attended by the head of the Railways Authority, the leaders of the Ministry of Transport and the National Authority for Tunnels. At the beginning of the meeting, the minister praised the fruitful cooperation between the two sides in the field of environmentally friendly electric traction projects that contribute to the daily movement of millions of citizens, referring to the ongoing investment cooperation with the bank, worth € 600 million in the implementation of the third phase of the Underground third line out of a total of € 939.2 million euros + EGP 9525.4 million (value of the implementation phase), as well as the investment cooperation with the bank with a value of € 350 million in the first line development works, the total cost of which is (751 million Euros). The negotiations revolved around the governmental agreement for the financing of the urban transport infrastructure projects to be signed with the bank at a value of 1,128 billion euros to finance a number of projects, namely (the project of rehabilitation of the Raml Tram in Alexandria at a value of €138 million, the electrification project of the Abu Qir /...
2020-11-22 13:55:10
Dr. Nevin Al-Kabbaj, Minister of Social Solidarity, and Dr. Maged Negm, President of Helwan University, signed today, Tuesday, a joint cooperation protocol between the Ministry and Helwan University, in order to implement the plan for developing informal settlements, the environment and society at the university's headquarters . This protocol comes within the framework of the state's commitment to implement what was included in the constitution issued in 2014 regarding the development of a comprehensive national plan to confront the problem of informal settlements, re-planning, providing infrastructure and facilities, improving the lives of citizens and public health, taking care of the citizens with low-income, as well as developing dangerous and insecure informal areas, and paying attention to social dimensions for all citizens to lead a decent life . This protocol is considered as a documentation of a community partnership between the two parties that defines the tasks and responsibilities, each within the limits of its competence. This goes in confirmation of what is required by the conditions of the Egyptian society that places strong emphasis on building people, especially in informal areas to achieve sustainability and cope with Egypt Vision 2030. The Ministry of Solidarity is committed to activating the urgent interventions in the slums located within the scope of Helwan University's work, in addition to working on families living in these a...
2020-11-26 14:23:45
Dr. Yasmine Fouad, Minister of Environment, announced that the Ministry, in cooperation with: the Public Authority for Fish Resources Development, the Police of Environment and Water Bodies, and the Environmental Affairs Department in Alexandria Governorate, announced that it has completed the installation and trial run of 4 stations for real-time monitoring of water quality in Lake Mariout in the areas of Basin 5000, Basin 6000, El-Max pumps and the navigational link of El-Nubaria Canal. Dr. Yasmine Fouad confirmed that this comes in implementation of the directives of President Abdel Fattah Al-Sisi, President of the Republic to raise the efficiency and development of the Egyptian lakes, and within the framework of implementing the Ministry of Environment's strategic plan to preserve water quality in Egypt, and in pursuit of the indicators and achieving targets of the environmental dimension of the 2030 Sustainable Development Strategy, which includes in its framework periodic and real-time monitoring of water quality level. The Minister of Environment added that these stations are the first real-time monitoring stations to be installed and operated in the Egyptian lakes due to the importance of these water bodies in developing the water environment from an environmental, economic and developmental point of view, and these stations contribute to determining the amount and type of pollution, which helps in taking the necessary measures to deal immediat...
2020-12-10 14:15:36
Dr. Hala El-Said, Minister of Planning and Economic Development, Governor of the Arab Republic of Egypt at the Islamic Development Bank Group, announced the results of cooperation between Egypt and the Bank Group within two years (August 2018 - December 2020). She said that Egypt is one of the founding countries of the Islamic Development Bank, pointing out that Egypt joined the bank in 1974 and has a permanent seat on the Board of Executive Directors. She added that Egypt ranks seventh among the largest shareholders and owns the largest number of shares in the bank, with 357,965 shares, or 7.07%, and its capital subscription amounts to $ 5 bn.
2021-01-09 15:21:39
Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, announced that Egypt was the top destination for the European Bank for Reconstruction and Development (EBRD)’s investment in southern and eastern Mediterranean countries, which include Egypt, Jordan, Lebanon, Morocco, Tunisia and the West Bank and Gaza, accounting for more than EUR 1 bn of the EUR 2.13 bn of the total development financing provided to SEMED countries in 48 projects across the region. While the repercussions of the COVID-19 pandemic led to a decline in development gains globally, it also demonstrated that extraordinary multi-sectoral and collaborative interventions are possible, Al-Mashat stated. However, it also proved that multilateral cooperation is one of the most important means to advance development efforts in countries, especially in times of crisis. The Minister of International Cooperation praised the strategic relationship with the European Bank for Reconstruction and Development in various development sectors to enhance the country's efforts in achieving the national development agenda that is consistent with the UN goals of sustainable development. In October 2020, Al-Mashat participated in the annual European Bank for Reconstruction and Development (EBRD) meetings to chart the Bank’s strategy for the next 5 years, which aims to bolster a resilient economy through accelerating green investment, as the EBRD is poised to become a majority green bank by 2...
2021-02-02 14:59:42
Eng. Walid Sheta, Regional President of "Schneider Electric" in Egypt, North Africa and the Levant, stated that Cairo is ranked among the top 10 environments in the world that provide an ideal climate for the establishment and growth of startups according to the recently issued Global Emerging Enterprise Environment (GSER 2020) report, indicating that entrepreneurship is the future that paves the way for young people to implement their ideas on the ground in a way that provides added value to society and themselves at the professional level. The Minister of Communications and Information Technology (CIT) Amr Talat and the French Ambassador to Egypt Stéphane Romatet have witnessed the awards ceremony of the first round of the French-Egyptian Startup Competition, where the eight Egyptian winning startups were announced and honored. The competition is a fruit of the Egyptian-French cooperation that aims to support the Egyptian community of entrepreneurs and innovators in digital technology. It aims to enhance bilateral cooperation in innovation and entrepreneurship, and help Egyptian startups grow to become leading companies in digital transformation. The initiative was launched after a Letter of Intent (LoI) was signed during the visit of French President to Egypt, in January 2019, with the aim to promote entrepreneurship and boost the growth of the startups specializing in digital services. Eight Egyptian enterprises out of 150 com...
2021-03-03 09:48:26
