Author: OMN AI

Egypt is working with the World Bank on new financing solutions to expand renewable energy and modernize the country’s electricity infrastructure. The discussions focused on creating a financial guarantee fund that could attract more private investment into clean energy and major infrastructure projects. Egypt’s Minister of Electricity and Renewable Energy Mahmoud Esmat met with a World Bank delegation to discuss stronger cooperation in power sector development, financial sustainability, and innovative funding methods. The meeting took place at the ministry’s headquarters in the New Administrative Capital. The talks included senior officials from Egypt’s electricity sector, including representatives from the Egyptian Electricity…

Egypt’s microfinance sector continued to expand in early 2026, with the total financing portfolio reaching nearly LE 108 billion in the first quarter of the year. The growth highlights the increasing role of small businesses in the country’s economy and efforts to improve access to financial services. The Egyptian Federation for Financing Medium, Small and Micro Enterprises reported that more than four million clients received support through microfinance programs during the period. The outstanding portfolio increased from about LE 105 billion in March 2025, marking annual growth of around 3%. The rise shows continued demand for financing among micro-business owners…

Egypt is expanding its plan to sell stakes in state-owned companies as the government works to attract more private investment and strengthen its capital markets. The country plans to list up to four government-owned companies on the Egyptian Exchange within the next 12 months. The move is part of Egypt’s wider economic reform program supported by an $8 billion agreement with the International Monetary Fund. It also follows the government’s State Ownership Policy, which aims to increase private sector participation and reduce direct state involvement in commercial activities. Investment and Foreign Trade Minister Hassan El Khatib said the government expects…

Egypt and Turkey are continuing to strengthen their relationship after years of political tensions, expanding cooperation in diplomacy, defense, and regional security. The growing Egypt Turkey Alliance marks a major shift from the rivalry that defined relations between the two countries for more than a decade. The two nations restored full diplomatic relations three years ago after a long period of strained ties. Since then, leaders and senior officials have held regular meetings and described their relationship as increasingly strategic, with both governments seeking closer cooperation on shared regional interests. Military cooperation has become one of the strongest areas of…

Egypt’s recycling industry is seeing a sharp rise in demand as manufacturers increasingly turn to locally processed plastic materials following supply disruptions linked to tensions around the Strait of Hormuz. The growing Egypt Plastic Recycling Boom has created new business opportunities for recyclers and manufacturers across the country. At the center of this growth is Manshiyet Nasser, widely known as Cairo’s “Garbage City.” The neighborhood has long been home to one of the world’s largest informal recycling networks, where thousands of residents collect, sort, and process waste into reusable materials. Recyclers say demand has changed dramatically in recent weeks. Instead…

Egypt is moving forward with plans to transform Al Suyuti Cemetery in Historic Cairo into an open-air museum while preserving its role as one of the country’s most important Islamic burial sites. The restoration project aims to protect the cemetery’s rich heritage, improve visitor access, and strengthen Cairo’s position as a leading cultural tourism destination. Prime Minister Mostafa Madbouly reviewed the project’s progress during a meeting held on July 13. Government officials said the redevelopment is part of a wider national plan to restore historic neighborhoods, protect cultural landmarks, and encourage heritage tourism across Egypt. Al Suyuti Cemetery, also known…

The Rosetta Stone remains one of the world’s most famous ancient artifacts and continues to be at the center of a long-running debate over cultural heritage. More than 220 years after it was taken to Britain, Egypt is renewing its efforts to bring the historic stone back to its country of origin. This week marks 227 years since French forces discovered the Rosetta Stone near the Egyptian city of Rashid during Napoleon Bonaparte’s military campaign in Egypt. The discovery became one of the most important moments in the study of ancient Egyptian history because it later helped scholars unlock the…

The African Development Bank Group has approved financing of up to $66 million for the first phase of the Egypt Dandara Solar Project, marking a major step in the country’s clean energy plans. The investment will support the construction of a 500-megawatt solar power plant with a 100-megawatt-hour Battery Energy Storage System in Egypt’s Qena Governorate. The funding package includes $46 million from the African Development Bank’s ordinary resources and $20 million from the Clean Technology Fund, which operates under the Climate Investment Funds. The remaining financing will come from additional lenders to cover the project’s total estimated cost of…

Türkiye and Egypt have strongly condemned recent attacks targeting Saudi Arabia and the United Arab Emirates, calling for calm and warning against any actions that could increase tensions across the Middle East. The statements came as the United Nations Security Council approved a six-month extension of its monitoring system for attacks on commercial ships in the Red Sea. The latest developments highlight growing concerns about regional security as governments and international organizations continue to watch the situation closely. Officials say efforts to reduce tensions remain important for protecting stability and international trade. Türkiye’s Foreign Ministry condemned a missile attack aimed…

Egypt is expanding its nationwide school health programme as more than 29,000 public and private schools prepare to screen primary school students for malnutrition during the new academic year. The initiative aims to identify anaemia, obesity and stunting at an early stage and provide timely medical support for children across the country. The Ministry of Health and Population said the programme is part of the presidential initiative for the early detection of nutrition-related health conditions. It covers both Egyptian and non-Egyptian students enrolled in primary schools in all governorates. Medical teams will visit schools throughout the academic year to carry…