The Clap
Egypt has a financing gap of about $6.1bn during the fiscal year 2022/2023 and will resort to a number of different sources in order to bridge this gap.
What
Among the most important sources of funding to bridge this gap are:
- $2bn from the sale of some state-owned assets
- $1.1bn from the World Bank
- $1bn from the China Development Bank
- The remaining funds will be distributed between the Asian Infrastructure Investment Bank, the Arab Monetary Fund, and the African Development Bank.
So What
Over the next 4 years, Egypt is expected to have financing needs of $16bn, but the government is confident in its ability to cover this gap.
Now What
Ahmed Kouchouk, Vice Minister of Finance, said Egypt will have secured funds from the African Development Bank, the World Bank, and the Asian Infrastructure Bank before June 2023.
