Egypt’s Sisi approves $499,000 AfDB’s MIC-TAF grant

Egypt has approved a grant agreement with the African Development Bank (AfDB) worth 499,000 units of account (UAs) under the Middle-Income Countries Technical Assistance Fund (MIC-TAF), according to a presidential decree published in the Official Gazette on Thursday.

The agreement, concluded between the Egyptian government and the AfDB, received presidential approval after review of constitutional provisions and Cabinet endorsement, the decree said.

The House of Representatives approved the deal in a session held on 4 Feb., 2026, followed by presidential ratification on 10 Feb., 2026.

A separate decree from the Ministry of Foreign Affairs and Expatriates confirmed the publication of the presidential decision in the Official Gazette.

The grant is part of the technical assistance provided through the African Development Bank’s MIC-TAF facility, which supports development initiatives in middle-income countries.