The Agreement on the granting of a concessional loan for the project “Support to the Development of the Private Sector in Egypt” between the Italian Republic and the Arab Republic of Egypt entered into force on July 9, 2019, upon receipt of the second of the two notifications, as stipulated in Article 15 of the agreement.
The concessional loan is intended to finance a project aimed at supporting the development of the private sector in Egypt, with the objective of strengthening Egyptian private enterprises. The project focuses on promoting SME competitiveness, innovation, and sustainable growth, facilitating access to credit, training, and technical assistance for Egyptian businesses.
The agreement has a duration equal to that of the concessional loan, as defined in Article 15. The overall duration of the loan is determined based on specific repayment terms, which include favorable conditions such as low interest rates and long repayment periods, in order to support Egypt’s economic growth and the strengthening of its productive capacity.
This type of agreement is significant for the strengthening of economic ties between Italy and Egypt, as it allows Italian companies to actively participate in the projects and initiatives related to financing and the development of the Egyptian private sector. Although it is not a direct trade treaty, it facilitates the expansion of business and investment opportunities for Italian companies interested in entering or consolidating their presence in the Egyptian market.