banks in Egypt

The European Bank for Reconstruction and Development is considering financing a large-scale solar and battery storage project in Egypt with a capacity in the gigawatt range. The potential backing would support Egypt's push to expand renewable energy capacity and grid stability, drawing interest given the country's growing role as a regional clean energy hub.

Egypt has rejected calls from Israeli officials to expand military operations in the occupied West Bank, after far-right Israeli finance minister Bezalel Smotrich urged a Gaza-style war there. Cairo warned such a escalation would destabilise the region further, deepening tensions between Israel and a key mediator in the conflict.

Egyptian Prime Minister Mostafa Madbouly met with the governor of the Central Bank of Egypt to discuss measures aimed at strengthening the country's financial and monetary stability. The talks come as Egypt works to shore up its economy amid ongoing currency pressures and reform efforts, with financial stability a key priority for the government and monetary authorities.

The National Bank of Egypt is set to acquire Banque Misr's branches in the United Arab Emirates, in a deal between two of Egypt's largest state-owned banks. The move would shift Banque Misr's UAE operations to its state counterpart and reflects ongoing consolidation among Egyptian state lenders' foreign operations. Details on the transaction's value and timeline have not been disclosed.