New Suez Canal: Officials Discuss Funding Plan (Egypt)

President Abdel Fattah El Sisi

President Abdel Fattah El Sisi met on Thursday with Prime Minister Ibrahim Mahlab, Central Bank of Egypt (CBE) Governor Hisham Ramez, Minister of Finance Hany Qadry, International Cooperation Minister Naglaa el-Ahwani, and Investment Minister Ashraf Salman to discuss plan of funding new Suez Canal project.

In a press release, Presidential Spokesman Ihab Badawi said that Sisi agreed to fund the project via Egyptian banks.

Sisi also agreed to offer new Suez Canal investment certificates in the Egyptian pound and US dollar.

He also directed to issue a number of stamps and a commemorative coin on the occasion of the new Suez Canal project.

Press Release, August 15, 2014

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