CAIRO, June 24, 2018 (MENA) - Egypt's House of Representatives, during its Sunday's plenary session under Speaker Ali Abdel Aal, approved presidential decrees no. 178 and 179 on obtaining two loans for a project meant to maintain sustainable development of Abu-Rawash wastewater treatment plant (WWTP) project.
The parliament debated a report - prepared by parliament's housing, public facilities and reconstruction committee as well as the offices of economic and African affairs committees - about presidential decree no. 178 of 2018 regarding the approval of a loan bankrolled by the African Development Bank (AFDB) and dedicated to the project of Abu Rawash WWTP sustainable development.
The loan agreement was signed on February 6 in 2018.
The parliament also debated presidential decree no. 179 of 2018 on giving the green light for a loan agreement between Egypt and the AFDB, which was signed in last February, to fund the project of Abu Rawash WWTP sustainable development.
CAIRO, June 24, 2018 (MENA) - Egypt's House of Representatives approved in its general session on Sunday President Abdel Fattah El Sisi's decision no. 231 of 2018 concerning the approval of a grant agreement worth €8 million between the state and the French Development Agency (AFD) for the El Ramel Tram renovation project in Alexandria.
Under the agreement, which was signed in Cairo on May 16, the AFD will provide a maximum of €100 million in credit facilities to the renovation venture.
The project that aims at easing traffic congestion in the heart of the coastal metropolis of Alexandria will include modifications and extensions to the tram routes, upgrading the services offered to commuters and revamping the tram carriages, platforms and stations as well as developing the neighborhoods where the tram’s three pivotal stations are located, namely El Ramel, Sidi Gaber and Victoria.
CAIRO, June 24, 2018 (MENA) – Egypt's House of Representatives members observed a minute’s silence in memory of engineer Baki Zaki Youssef who came up with the idea to destroy the Israeli Bar Lev Line during October War 1973.
During the parliament’s session on Sunday, Speaker Ali Abdel Aal mourned Youssef and hailed his idea to destroy the Israeli Bar Lev Line that is currently being studied in all military academies around the world.
Abdel Aal also hailed the army and police forces over their efforts and sacrifices in the service of the homeland.
CAIRO, June 24, 2018 (MENA) – Members of the Egyptian House of Representatives hailed efforts exerted by the army and police forces to combat terrorism.
During a session to approve the extension of the state of emergency for an additional three months, Speaker Ali Abdel Aal said that the extension of the state of emergency aims at protecting the country and its borders as well as ensuring citizens’ security and freedoms.
He called on members of the parliament to observe a minute's silence in memory of the victims of the the Armed Forces.
Meanwhile, MP Taher Abu Zeid lauded the army and police forces over their sacrifices, adding that security authorities are bravely fighting terrorism and outlaws.
CAIRO, June 24, 2018 (MENA) – The Egyptian parliament on Sunday approved in its plenary session a draft law on an additional funding of LE 70.3 billion to the state budget for the fiscal year 2017-2018.
“The last paragraph of the constitution states that the House of Representatives must approve the transfer of any funds from one section of the state budget to another, as well as any expenditure not included therein or in excess of its estimate. Such approval shall be issued by a law,” Parliament Speaker Ali Abdel Aal said while debating the government-proposed bill.
For his part, head of the parliament's budget and planning committee Hussein Essa said the bill cited some key and influential economic variables, which resulted in the emergence of new financial obligations that were not taken into account when preparing and endorsing the state budget for 2017-2018.
Among those economic variables were the Central Bank of Egypt (CBE) decision to withdraw additional liquidity from the local market at interest rate exceeding the interest rates on treasury bills and bonds issued by the Ministry of Finance by about 3-4%, he added.
The additional appropriation of LE 70.3 billion will be distributed as follows:
- A sum of LE 57 billion will be allotted to coping with the increase in the interest rates of the domestic and external debt.
- A total of LE 2.3 billion will be dedicated for disbursing compensations for North Sinai and paying some outstanding contributions to international institutions and bodies.
- About LE 6 billion will be allotted to covering the state's contribution to raising the CBE capital.
- Some LE 5 billion will be allocated to settling the installments of public debt; Arab states' deposits and the amortization of premium on some bonds.
CAIRO, June 24, 2018 (MENA) – The Egyptian parliament on Sunday approved presidential decree no.266 of 2018 to extend a nationwide state of emergency for three months as of July 14, 2018.
In a plenary session, Parliament Speaker Ali Abdel Aal said the decree was endorsed after securing the required two-thirds majority of votes.
The decree authorizes the army and police to take the necessary steps to combat terrorism in order to preserve the safety of citizens and public property across the nation.
The state of emergency was first imposed in April 2017 after two church bombings killed 47 people. It has been renewed every three months ever since.