Arab Finance: A European technical mission is currently visiting Cairo to conduct a review in preparation for the release of a $2.9 billion development funding, the Egyptian Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat told Asharq Business.

This funding is expected to be disbursed next December as part of a European agreement, the minister highlighted.

Al-Mashat also confirmed that a delegation from the International Monetary Fund (IMF) will visit Cairo next month for a new review of Egypt's ongoing economic reform program.

Furthermore, she added that Egypt will actively participate in the IMF’s periodic meetings scheduled for this month.

She also revealed that the government has submitted to a draft law the House of Representatives on transferring the affiliation of The Sovereign Fund of Egypt (TSFE) from the Ministry of Planning to the Prime Minister’s office.

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