Egypt targets raising $1.5B from government offerings in 2025

Updated 4/21/2024 7:44:00 AM
Egypt targets raising $1.5B from government offerings in 2025

Arab Finance: Egypt seeks to raise around $1 billion from government offerings in 2024 and $1.5 billion in the coming year, Minister of Planning and Economic Development Hala Elsaid told Asharq Business on April 19th.

The minister made these comments on the sidelines of the International Monetary Fund’s (IMF) and the World Bank's Spring Meetings in Washington, DC.

Elsaid also highlighted that Egypt had received seven offers from international hotel chains to utilize the old headquarters of the country’s ministries.

She added that the government had set a comprehensive scheme for the Downtown area, which includes the old headquarters.

Nonetheless, the state will still own these buildings, and the companies will be allowed to utilize them, the minister said.

Furthermore, Elsaid announced that Egypt is approaching selling a stake in the Jabal Al-Zeit and Zafarana wind farms to a strategic investor.

This offer is expected to be finalized within three to four months after being evaluated by international advisors, she added.

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