Arab Finance: Egypt has raised $3.5 billion so far from the state initial public offering (IPO) program, Minister of Finance Mohamed Maait said during the International Monetary Fund (IMF) symposium in Cairo.

During the symposium, Maait stressed the necessity of boosting multilateral cooperation to explore innovative financing solutions to bridge the financing gaps resulting from geopolitical tensions across the globe.

Maait also noted that the government has extended beneficiary base of the Takaful and Karama program to include 5.2 million families, in addition to upping their monthly grants by 25% and pensions by 15%.

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