Project Qatar 2017
Sunday, October 23, 2016
Directory Directory Subscribe

US EXIM Bank to invest $5 billion in Egypt’s infrastructure


Please, enter data

Please, enter data

Daily News Egypt, 17 March 2016

The chairman and president of the US Export and Import Bank Fred P Hochberg recently visited Cairo and met with President Al-Sisi to discuss investments of $4bn to $5bn in Egyptian infrastructure.
EXIM Bank is the official export credit agency of the United States. “Right now, EXIM Bank is receiving more inquiries about doing business in Egypt than at any time in our recent history,” said Hochberg.  “And, while these projects will help build Egypt’s future infrastructure, our short-term financing has already facilitated increased trade through the Egyptian banking sector. Egyptian companies’ ability to acquire high quality US goods and services, in turn, contribute to continued job growth in Egypt,” he added.

For example, Egypt’s Carbon Holdings plans to finance the Tahrir Petrochemicals project by tapping multiple export credit agencies, including EXIM Bank. The $7.6bn project will create economic opportunities for Egyptians and unite the resources of a number of countries – including the US – toward a partnership for a sustainable future and more private sector jobs in Egypt.

In its power sector, Egypt has set ambitious requirements for new power generation capacity and has several program initiatives underway in gas-fired and renewable energy projects. In 2015, EXIM Bank’s Board of Directors approved a multi-billion-dollar preliminary commitment to the national utility in support of a US exporter’s bid to construct power plants in Egypt.

These developments mean Egypt will continue to need faster and more efficient transportation to connect to local and global markets.  Egyptian National Railways – a long-time purchaser of US-made locomotives – is looking to upgrade its railcars and locomotives.  While a number of other countries are competing to win ENR’s business, EXIM has already approved an initial commitment of nearly $300m in financing for a sale of US locomotives to ENR.  The planned increase in rail capacity moves people and goods more rapidly and relieves congestion on heavily trafficked roads in Cairo and throughout Egypt.

And, as Egypt continues to engage in an increasingly interconnected world, it will need new, efficient, well-maintained aircraft.  Over the last decade, EXIM Bank financed more than 10 Boeing 737-800 aircrafts for Egypt Air, connecting Egypt to the world on some of the most modern, most comfortable, most fuel-efficient, and most versatile aircrafts.  Not only does this mean Egyptians can travel quickly and efficiently for business, it also offers tourists greater access to Egypt’s rich culture and history on a modern, networked fleet.

“In our challenging world, however, more travel means a greater need for technologies that will keep air and seaports safe.  As Egypt’s government and private sector leaders work to expand port capacity, US companies provide world-class goods and services in dredging, engineering, and safety technology,” said Hochberg.

Collectively, these opportunities represent the “Egypt Opportunity”, said Hochberg.
Daily News Egypt
17 March

Login to Add Your Comment  (for subscribers) | Subscribe


Latest News

Qatar’s Premier Hospitality Exhibition wraps up with high satisfaction levels and record breaking feedback
ifpinfo, 21 October 2016

The 360° Hospitality and HORECA (Hotels, Restaurants, Cafes) show of Qatar, Hospitality Qatar 2016, successfully came to a close at the Doha Exhibition and ...

Read full story
Qatar’s Premier Hospitality Exhibition wraps up with high satisfaction levels and record breaking feedback
Brazil mulls exploring GCC's expanding fruit market
Press Release, 21 October 2016

Brazil deliberates exploring the GCC’s lucrative fruit market to further expand its food trade with the region. According to a recent research conducted by ...

Read full story
Brazil mulls exploring GCC's expanding fruit market
Back to Home Page 3350 --- 385 <><><> 1071.3333333333.....exvideo=0....eximage=0
P 0
BR 16



3rd Annual Future Landscape & Public Realm Qatar
24 - October 2016
RetrofitTech KSA
24 - October 2016
Future Drainage & Stormwater Networks Dubai
26 - October 2016
2nd Annual WeatherTech GCC
1 - November 2016
Humanitarian Technology & Equipment UAE
7 - November 2016
  View more  

Market Indecies
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%

Future BIM Implementation Qatar 2017

Quick Links
  Brochures & Flyers  

Up-coming events
  2nd Annual LightingTech Egypt - 15 November - 16 November 2016  
  Project Egypt - 8 February - 11 February 2017  
  Food Africa Cairo - 22 April - 24 April 2017  
IFP Group Events Calendar


Notice: Undefined variable: left3 in C:\inetpub\wwwroot\rec2008\ifpinfo\ifpinfo-news.php on line 1545

Magazine sections
  Growth Markets  
  Regional Overview  
  Tips and Tricks  
  Home Finance  
  Our Meetings
  Legal Issues


IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Energy Lebanon
Project Lebanon
3rd Annual Future Drainage & Stormwater Networks Qatar
3rd Annual Future Landscape & Public Realm Qatar
Heavy Max
Project Qatar
Qatar StoneTech
Saudi Arabia
Riyadh Motor Show
Saudi Autoshop
Saudi Power Sports
Saudi Transport
Riyadh Motor Show
IFP Group 2016 - © All rights reserved