Egypt's central bank left its key interest rates on hold after cutting them three times this year, most recently in November, saying this decision was consistent with achieving its new and lower inflation target for the end of 2022.

The Ministry of International Cooperation and the German Agency for International Cooperation (GIZ) agreed to finance 11 new projects worth €132.8 million in 2021.

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided on Thursday to cut the overnight deposit rate, overnight lending rate, and the rate of the main operation by 0.5 per cent (50 bps) to reach 8.25 per cent, 9.25 per cent, and 8.75 per cent, respectively.

The Central Bank of Egypt (CBE) has extended the current exemption of domestic EGP transfers from commission and fees until 15 September.