Although the world remains largely dependent upon fossil fuels for power generation, a gradual transition towards renewable sources has been taking place since the 1990s, underpinned by multilateral deals such as the Kyoto Protocol, the Doha Amendment and, more recently, the Paris Agreement. Investment and development in renewable technologies...
According to the Minister of Petroleum and Mineral Resources, Tarek El Molla, foreign investment in oil and gas reached approximately $10bn in FY 2017/18, representing growth of 25% over investment received during the year prior, due mainly to spending on new gas fields in the Mediterranean Sea. El Molla asserted that the country is targeting...
Attempts by the Central Bank of Egypt (CBE) to boost lending to small and medium-sized enterprises (SMEs) dates back more than a decade. The Access to Finance initiative was one of the pillars of the second Egyptian banking reform plan – which was in effect over the 2008-11 period – and introduced the idea of exempting banks from a portion of...
In November 2016 the executive board of the IMF approved a three-year, $12bn loan under an extended fund facility (EFF) to assist with Egypt’s economic reform strategy. The liberalisation of the exchange rate, elimination of the parallel market and the stability of the Egyptian pound were crucial goals of the EFF programme. Moreover, several...
The Egyptian Exchange (EGX) is one of the oldest stock markets in the Middle East and dates back to 1883. It includes the main market, an over-the-counter market, and the Nile Stock Exchange (Nilex) for small and medium-sized enterprises.
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