President Abdel Fattah El-Sisi signed Law No. 177 of 2018 establishing the “Egyptian Fund” after it was approved by the House of Representatives.
A sovereign fund shall be established by virtue of this law, which shall designate the Egyptian Fund and shall have an independent corporate body in addition to having its headquarters in Cairo Governorate.
The Fund aims to contribute to sustainable economic development through managing its assets and optimizing them in accordance with the best international standards to maximize their value for future generations.
In this way, the Fund can cooperate with Arab and foreign counterpart funds and financial institutions.
The authorized capital of the Fund is LE 200 billion and its issued capital is LE 5 billion, of which LE 1 billion will be paid from the State Treasury at the time of incorporation.
The remainder will be paid in accordance with the investment opportunities plans provided by the Fund within three years from the date of incorporation.