The European Parliament approved the second tranche worth €4 billion of the European Union's (EU) Macro-Financial Assistance (MFA) package for Egypt during its session on Tuesday, April 1st.

The European Bank for Reconstruction and Development (EBRD) is coordinating with the International Monetary Fund (IMF) to extend the latter’s $8 billion loan program to Egypt by $1 billion, Head of Egypt at EBRD Khalid Hamza said.

The World Bank Group (WBG) will provide a financing package of $6 billion to Egypt over the upcoming three years, Minister of International Cooperation Rania Al-Mashat revealed in a meeting with WBG’s Managing Director of Operations Anna Bjerde on March 18th.

The Egyptian President Abdel El-Fattah El-Sisi and the President of the European Commission Ursula von der Leyen have signed the joint political declaration document.

President Abdel Fattah El-Sisi has mandated the government to prepare a new social protection package that includes improving wages and pensions and raising the tax exemption limit, Minister of Finance Mohamed Maait stated.

Contact Financial Holding has introduced new financial packages for up to 36 months for special events, including weddings, birthdays and graduation ceremonies, according to an emailed press release to Arab Finance on August 2nd.