President Abdel Fattah al-Sisi has issued Decree No. 452 of 2023, which approves a loan agreement worth $500 million with Deutsche Bank and the Arab Banking Corporation (ABC) for the benefit of Egypt’s Ministry of Finance. The loan is secured by a guarantee from the Arab Investment and Export Credit Guarantee Corporation.
The decree, which was published in the official gazette on Thursday, marks another step in Egypt’s efforts to secure funding for its development projects and economic initiatives. The loan agreement is part of broader efforts to strengthen Egypt’s financial resources and support its fiscal policies.
This move highlights Egypt’s ongoing efforts to attract international financial support and foster partnerships with major global banking institutions to enhance its economic stability.
