The African Development Bank Group (AfDB) has approved a $184.1 million financing package to support the development of the Obelisk 1-gigawatt solar photovoltaic project and 200-megawatt-hour battery energy storage system in Egypt.

The African Development Bank (AfDB) is planning to provide a partial credit guarantee (PCG) worth $400 million, or its equivalent in Japanese yen, to support Egypt's upcoming issuance of sustainable Samurai bonds.

Egyptian President Abdel Fattah El-Sisi issued Decree No. 371 of 2024, approving $2 million grant agreement provided by the African Development Bank (AfDB)

Egypt's House of Representatives has approved Presidential decree No. 383 of 2024 sanctioning an agreement with the African Development Bank (AfDB) to finance the first phase of a budget support program aimed at private sector development and economic diversification.

The African Development Bank (AfDB) has approved a loan of up to $170 million to support the development of the 1.1-gigawatt Suez Wind Power Project, Egypt's largest wind energy plant.

The cabinet has approved the presidential draft resolution regarding the framework amendment agreement for the African Development Bank Group (AfDB) to replace the use of LIBOR as a reference interest rate with SOFR in calculating interest rates in development financing agreements.

Egypt has joined a new $1.5 billion primary health financing platform launched by the World Health Organization (WHO) and three multilateral development banks: the African Development Bank (AfDB), the European Investment Bank (EIB), and the Islamic Development Bank (IDB)

Egypt is set to sign a long-term concessional loan agreement with the European Union (EU) worth €1 billion under the EU’s macro-financial assistance (MFA) and budget support efforts.

Egypt’s real gross domestic product (GDP) growth is projected to shrink to 3.7% in 2024 from an estimated 4% in 2023, according to the Africa’s Macroeconomic Performance and Outlook report by the African Development Bank Group (AfDB).

The Commercial International Bank (CIB) has borrowed $148 million from the African Development Bank (AfDB) to support small- and medium-sized enterprises (SMEs) and bolster the African trade.

The African Development Bank (AfDB) approved a $131 million loan to Egypt to strengthen the country’s business environment, the lender said on November 27th.

The African Development Bank (AfDB) is planning to provide up to $350 million in financing for public and private development projects in Egypt before the end of 2023.