Egypt:US$6 bln Loan Agreements Signed Since Morsi’s Ouster

The total loans and grants received by Egypt’s army-backed government since July 2013 have hit around US$ 5.9 billion, as pursuant to a number agreements have been signed by the country’s international cooperation ministry.

Dr. Ziad Bahaa El-Din, Deputy Prime Minister and Minister of International Cooperation, said Egypt has begun to restore its centrality to the world countries as well as to the international funding organizations.

The table below demonstrates the recent agreements signed by the Egyptian interim government since July 2013:

Lender

Loan Value

Funding Purposes

Cooperation Agreements with UAE

US$ 4.9 billion Grant

Supporting the government’s developmental programs in terms of carrying out projects to upgrade vital utilities in Egypt as pursuant to the stimulus plan.

Agreement with Japan Government and the UNDP

EGP 25.3 million

Financing development projects in Sohag governorate in cooperation with SFD.

Two Loan Agreements; one with the World Bank and the other with OPEC Fund for International Development (OFID)

US$ 585 million and US$ 70 million, respectively

Financing South Helwan power plant projects.

Kuwait Fund for Arab Economic Development (KFAED)

US$ 108 million

Financing development project for the train lines running from Banha via Zagazig to Port Said and to a line from Zagazig to Abu Kabeer.

The Islamic Development Bank (IDB)

US$ 50 million loan and US$ 320.000 grant

Financing and supporting microfinance projects for SFD.

SFD’s Al Qard Al Hassan (profit free finance)

US$ 31.03 million

Financing project to resume the establishment of the educational hospital of Al-Azhar University.

Arab Fund for Economic and Social Development

US$ one million

Covering the costs of the work on preparing the General Census of Population and Housing