Egyptian Minister of Petroleum, Tarek El Molla, signed a cooperation agreement on May 22 with the Egyptian Minister of Investments, Sahar Nasr, and the European Bank for Reconstruction and Development (EBRD).

Egypt’s government approved signing three vital international agreements, including around $647.83 million deal with the European Union (EU).

The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, signed an investment agreement with China to boost the capacity of the electricity local grid.

The Romanian Transgaz Company indicated interest in establishing a factory in Egypt.

Egyptian authorities are in talks with local and international investment banks to be advisers for the IPO program.

The Egyptian Minister of Investments, Sahar Nasr, signed an Arab Fund for Economic and Social Development (AFESD) agreement worth $85m.

The World Bank (WB) announced that it released $1b to Egypt as the second tranche of its $3b loan agreement signed with the Arab country in December 2015.

Engineering for the Petroleum & Process Industries (Enppi) and Alexandria Mineral Oils Company (AMOC) will launch an initial public offering (IPO) during 2017.