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Egypt secures €37 million for power grid upgrade, approves Suez Canal company capital increase, and agricultural merger
via Egypt Today1 min read
Egypt's Cabinet has approved a €37 million financing package to modernize the national electricity grid. This includes a €35 million investment grant from the European Union and a €2 million technical cooperation grant from the European Bank for Reconstruction and Development. The project aims to improve grid stability and expand its capacity for wind energy integration, supporting Egypt's 2030 renewable energy strategy. Additionally, the Cabinet approved increasing the authorized capital of the Suez Canal Modern Boats Company from $100 million to $250 million. A draft law was also approved to merge the Egyptian Agricultural Authority into the Agricultural Research Center, with the ARC assuming all responsibilities. This merger is intended to enhance institutional efficiency, unify agricultural research, and improve the performance of government entities under the Ministry of Agriculture and Land Reclamation, aligning with the state's plan to improve public sector performance and citizen services.
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This summary was AI-generated from a story originally published by Egypt Today.
Egypt presented its fourth Voluntary National Review VNR on progress toward the 2030 Sustainable Development Goals SDGs at the 2026 High-Level Political Forum on Sustainable Development HLPF in New York. This makes Egypt one of only 10 countries globally to submit four such reports. Minister of Planning and Economic Development Ahmed Rostom presented the report, which was prepared in cooperation with the United Nations Development Programme UNDP. The report reviews Egypt's progress in implementing the 2030 Agenda and outlines the country's priorities for accelerating sustainable development. Rostom highlighted Egypt's commitment to transparency and monitoring SDG progress despite global economic and geopolitical challenges. The review involved a broad consultative process with government entities, UN agencies, development partners, the private sector, parliament, youth, civil society, and academia. The report is structured around four pillars: human development, economic and social development, environment and climate, and governance and partnerships. Key priorities for Egypt include advancing structural transformation, increasing private sector participation, investing in human capital, supporting green transition and climate finance, promoting local development, and strengthening governance and sustainable financing. The 2026 HLPF theme is "Transformative, equitable, innovative and coordinated action for a sustainable future for all," featuring VNRs from 36 countries includ
England's aspiration to reach their first World Cup final since 1966 was dashed after Argentina scored two late goals to secure a 2-1 semi-final victory. The defeat leaves England to play in Saturday's third-place match against France. Former England captain Wayne Rooney criticized coach Thomas Tuchel's passive tactics, stating that England "crumpled" and failed their biggest test. Tuchel, however, reaffirmed his commitment to leading England, citing his contract extension through Euro 2028 and his focus on future challenges. Despite strong performances from Harry Kane and Jude Bellingham, who accounted for 12 goals, and a display of resilience throughout the tournament, England's journey ended in familiar semi-final heartbreak, having squandered leads in two of their last three World Cup semi-finals. Jude Bellingham expressed his deep disappointment, wishing he could have delivered a victory for the fans.
Egypt's Minister of Tourism and Antiquities, Sherif Fathy, approved new regulations for Umrah trips for the 1448 AH season, developed by the Supreme Committee for Umrah and Hajj. These measures aim to streamline the organization of the new season, improve services for Egyptian pilgrims, and strengthen monitoring systems from contract signing to their return. Key provisions include the launch of the "Rafeeq" electronic application for pilgrims and supervisors, requiring tourism companies to ensure pilgrims download the app and upload contractual documents. Companies must promptly respond to reports via the app and other official channels, and issue identification cards with trip details for each pilgrim. Advertising Umrah programs without notifying the General Directorate of Religious Tourism is prohibited, and advertisements must include full program details. Exemptions apply for programs from the 15th of Sha'ban to the 17th of Ramadan, extending to a maximum of 35 days. New Umrah trips will not be approved until 70 percent of a company's pilgrims have returned, and during peak months, new trips are contingent on previous trips returning, with a maximum of three trips remaining in the Kingdom. Airlines must provide meals for delays up to six hours and accommodation for longer delays. An electronic system will track Umrah buses outside Egypt, and land trip buses must be 2022 models or newer and technically sound. An integrated electronic system will also evaluate service quali