Suez Canal Certificates Endorse EGP 49bln Proceeds – C.Bank

By Salma Ayman On Sep 15, 2014

Central Bank of Egypt (CBE) Governor Hisham Ramez said the proceeds from selling the new Suez Canal investment certificates reached to EGP 9.5 billion yesterday evening.

Egypt is aiming EGP 60 billion from these certificates, which will go for financing the digging of the new waterway, in addition to building six new tunnels across the canal in preparation for launching a logistics services and trade zone.

Accordingly, the total proceeds from the certificates rose to EGP 49 billion since launching the sale for nationals on Thursday, September 4, Ramez added.