Egypt: 3 Presidential and Governmental Decisions Come into Effect
Three presidential and governmental decisions have come into effect in Egypt, including a subscription to the International Development Association, appointments in the Gargoub zone, and land for Metro Line 6.
The Egyptian Official Gazette published a set of presidential and governmental decisions that have come into effect, most notably President Abdel Fattah El-Sisi's approval of Egypt's subscription to the nineteenth capital increase of the International Development Association valued at $5,810,000.
The decisions included appointing Ashraf Mohamed Mohamed Ghazali as Chairman of the General Authority for the Gargoub Special Economic Zone for a one-year term, Diaa Ahmed Roshdy as Vice Chairman for Investment, and Osama Saleh Mohamed Saleh as Vice Chairman for Projects, in accordance with Special Economic Zones Law No. 83 of 2002.
Prime Minister Moustafa Madbouly also issued a decision adding land plots and real estate to the public utility works required for the implementation of Metro Line 6 within Cairo and Qalyubia governorates, supplementing Decisions No. 3507 of 2024 and No. 3544 of 2025.
The Ministry of Transport clarified that 500 million EGP will be allocated for initial estimated compensations to property owners in accordance with the general budget authorizations of the National Authority for Tunnels for the fiscal year 2026/2027. The House of Representatives had approved the subscription decision during its session held on July 14.
What do these terms mean?
International Development Association (IDA): An institution affiliated with the World Bank that provides low-interest loans and grants to developing countries to support their development projects.
Public Utility: A legal designation granted to government projects that serve the public interest, allowing the expropriation of necessary real estate in exchange for compensation.
Special Economic Zone: A defined geographical area in which the state grants tax, customs, and regulatory incentives to attract investment.
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