Mada Masr· 5d ago· 1 min read
A law restructuring the Future of Egypt for Sustainable Development Authority, approved by Parliament last week, establishes a new sovereign fund with special status, the Ahramat al-Nil fund, which will report directly to the authority and, in turn, the presidency.
The fund joins the authority’s “ sustainable development zones ” and a second service fund, Daem, as one of the three primary mechanisms through which Future of Egypt will carry out its expansive mandate.
The law’s second chapter sets out the regulations governing the new fund. It describes Ahramat al-Nil as the authority’s investment arm, tasked with “achieving sustainable economic development, maximizing the value of investment assets for future generations and strengthening the economy in the face of crises.”
The fund is part of efforts to channel state assets and wealth into investment through sovereign entities…
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