CAIRO: Egypt’s Suez Canal’s revenues increased 20.7 percent during the fiscal year 2021/22. The Ministry of International Cooperation has received $2.4 billion from bilateral and multilateral partners over the past two years for the development of sustainable transport sector.
Suez Canal
Suez Canal’s revenues increased by 20.7 percent during the fiscal year 2021/22, compared to the year earlier, to reach $7 billion, Asharq Al-Awsat reported citing Suez Canal Authority Chairman Osama Rabea.
Egypt’s fiscal year runs from July 1 to June 30.
Sustainable transport sector
Egypt is working to provide development funds and technical support from multilateral and bilateral development partners in a bid to develop the transport sector, Asharq Al-Awsat reported citing the minister of international cooperation.
Rania Al-Mashat was quoted as saying that over the past two years, the ministry has received around $2.4 billion for the sustainable transport sector from the European Investment Bank, the French Development Agency, the European Bank for Reconstruction and Development, China, and the Kuwait Fund for Arab Economic Development.
BNPL service
Amazon Egypt has launched its buy now, pay later fintech platform valU, as part of its commitment to enhance shopping experience in the north African country and offer customers affordable and flexible payment options.
