Latest news with #Tahweesha
Egypt Independent
06-05-2025
- Business
- Egypt Independent
Second tranche of EU financial package to arrive in Egypt within weeks: Ambassador
The European Union's Ambassador to Egypt, Angelina Eichhorst, announced that the second tranche of the European financial package – worth four billion euros as part of the overall financial support package for Egypt – is expected to be disbursed within weeks. On the sidelines of her current visit to Aswan, Eichhorst explained that the exact date for the disbursement of the second tranche, which was approved by the European Parliament in April, has not yet been determined. Remarkable progress She added that during her field visits, she reviewed some projects in Aswan, including 'Tahweesha,' 'Tamkeen,' and 'Dawy,' which are supported by the EU, and said she witnessed remarkable progress – especially since it is not easy for any society to integrate women into projects. Eichhorst noted that discussions are currently underway with Minister of Planning and International Cooperation Rania al-Mashat regarding the 2026-2028 program and the Egyptian government's priorities, including building support for girls and women. Furthermore, the Egyptian Finance Ministry intends to cover the new budget deficit by issuing new domestic debt instruments worth LE 2.2 trillion, with LE 2.2 trillion in treasury bills and LE928.9 billion in treasury bonds, as part of the government's plan to increase spending on social welfare and bridge the budget deficit. The ministry also plans to issue international bonds worth no less than four billion US dollars during the next fiscal year, as part of a program to issue international bonds totaling four billion dollars. The financing gap in the draft budget for the next fiscal year is expected to increase by more than 25 percent to LE 3.6 trillion, and the draft budget has set the exchange rate at LE 50 to the US dollar. Egypt seeks to reduce financing gap The Chairman of the Planning and Budget Committee in the House of Representatives Fakhry al-Fekki said that the government seeks to reduce the financing gap by obtaining funding from international financial institutions, including the International Monetary Fund, the World Bank, and the European Union, in addition to issuing international bonds and sukuks. Fekki estimated the financing gap for the remainder of the current fiscal year 2024/2025 at approximately four billion dollars, which will be financed by issuing international bonds in foreign markets, in addition to obtaining US$1.3 billion in resilience and sustainability financing from the International Monetary Fund to address the effects of climate change.
Egypt Independent
06-05-2025
- Business
- Egypt Independent
Second tranche of European financial package to Egypt within weeks: EU Ambassador
The European Union's Ambassador to Egypt, Angelina Eichhorst, announced that the second tranche of the European financial package – worth four billion euros as part of the overall financial support package for Egypt – is expected to be disbursed within weeks. On the sidelines of her current visit to Aswan, Eichhorst explained that the exact date for the disbursement of the second tranche, which was approved by the European Parliament in April, has not yet been determined. Remarkable progress She added that during her field visits, she reviewed some projects in Aswan, including 'Tahweesha,' 'Tamkeen,' and 'Dawy,' which are supported by the EU, and said she witnessed remarkable progress – especially since it is not easy for any society to integrate women into projects. Eichhorst noted that discussions are currently underway with Minister of Planning and International Cooperation Rania al-Mashat regarding the 2026-2028 program and the Egyptian government's priorities, including building support for girls and women. Furthermore, the Egyptian Finance Ministry intends to cover the new budget deficit by issuing new domestic debt instruments worth LE 2.2 trillion, with LE 2.2 trillion in treasury bills and LE928.9 billion in treasury bonds, as part of the government's plan to increase spending on social welfare and bridge the budget deficit. The ministry also plans to issue international bonds worth no less than four billion US dollars during the next fiscal year, as part of a program to issue international bonds totaling four billion dollars. The financing gap in the draft budget for the next fiscal year is expected to increase by more than 25 percent to LE 3.6 trillion, and the draft budget has set the exchange rate at LE 50 to the US dollar. Egypt seeks to reduce financing gap The Chairman of the Planning and Budget Committee in the House of Representatives Fakhry al-Fekki said that the government seeks to reduce the financing gap by obtaining funding from international financial institutions, including the International Monetary Fund, the World Bank, and the European Union, in addition to issuing international bonds and sukuks. Fekki estimated the financing gap for the remainder of the current fiscal year 2024/2025 at approximately four billion dollars, which will be financed by issuing international bonds in foreign markets, in addition to obtaining US$1.3 billion in resilience and sustainability financing from the International Monetary Fund to address the effects of climate change.
Egypt Independent
09-02-2025
- Business
- Egypt Independent
Spanish ambassador lauds efforts of NCW to support, empower women
Spanish Ambassador to Egypt Alvaro Iranzo lauded the efforts of the National Council for Women (NCW) to support and empower women, especially in the economic field. He asserted the importance of raising the awareness of men concerning their role in supporting women. This came during a meeting between Iranzo and his accompanying delegation and Head of NCW Aml Ammar to discuss means to boost joint cooperation in the field of empowering women. Iranzo reiterated the importance of future cooperation between both sides in the fields of eradicating violence against women, increasing their participation in the tourism sector and empowering them socially and economically. For her part, Ammar reviewed the efforts exerted in Egypt to support and empower women, pointing out to launching the national strategy of empowering Egyptian women 2030 which falls within the framework of the goals of sustainable development and Egypt Vision 2030. Ammar tackled the efforts of the state to spread the concept of financial inclusion among women, highlighting the digital saving application 'Tahweesha' which aims at empowering women economically. She lauded the fruitful cooperation with the Spanish Agency for International Development Cooperation (AECID) to implement the project of supporting a safe working environment to achieve equality for women in the sector of tourism in Egypt.
Egypt Today
08-02-2025
- Business
- Egypt Today
Spanish amb. lauds efforts of NCW to support, empower women
Women - file CAIRO - 8 February 2025: Spanish Ambassador to Egypt Alvaro Iranzo lauded the efforts of the National Council for Women (NCW) to support and empower women, especially in the economic field. He asserted the importance of raising the awareness of men concerning their role in supporting women. This came during a meeting between Iranzo and his accompanying delegation and Head of NCW Aml Ammar to discuss means to boost joint cooperation in the field of empowering women. Iranzo reiterated the importance of future cooperation between both sides in the fields of eradicating violence against women, increasing their participation in the tourism sector and empowering them socially and economically. For her part, Ammar reviewed the efforts exerted in Egypt to support and empower women, pointing out to launching the national strategy of empowering Egyptian women 2030 which falls within the framework of the goals of sustainable development and Egypt Vision 2030. Ammar tackled the efforts of the state to spread the concept of financial inclusion among women, highlighting the digital saving application 'Tahweesha' which aims at empowering women economically. She lauded the fruitful cooperation with the Spanish Agency for International Development Cooperation (AECID) to implement the project of supporting a safe working environment to achieve equality for women in the sector of tourism in Egypt.
