Egypt’s government approves proposals for sovereign fund

Egypt’s cabinet has accepted a proposal to establish a sovereign investment fund to encourage economic diversification and encourage economic and social development. The fund will not make direct investments, but partner instead with financial institutions as well as Arab and International funds on mega-projects. The fund will be named Amlak and will be owned by the state through the National Investment Bank. No details were given of when the fund would be started or how much money it would manage.

Read more at The Africa Report…

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