El Molla Suggests EXIM to Fund US Oil Firms to Invest in Egypt

The Minister of Petroleum and Mineral Resources, Tarek El Molla, suggested Export-Import Bank of the United States (EXIM) contribute to financing private sector entities that desire investing in Egypt’s natural gas field, in light of the East Mediterranean Gas Forum (EMGF)’s initiative.

El Molla asserted the importance of the gas sector in turning Egypt into a regional hub. The minister proposed creating a working group of the relevant ministries, in coordination with the embassy in Washington, to provide American firms with the available opportunities in Egypt in order to boost the presence of these companies in the Egyptian market.

The Minister’s suggestion came during the meeting held with EXIM’s President and Chairman, Kimberly A. Reed, in Washington, in the presence of the Prime Minister, Mostafa Madbouly, along with the ministers of Investment and International Cooperation, Trade and Industry, and the Egyptian Ambassador to Washington.


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