MP Soheir Koriem affirmed during her speech before the plenary session of the House of Representatives the importance of Presidential Decree No. 115 of 2026 regarding the approval of the increase in the capital of the Arab Monetary Fund and the amendment of certain articles of its founding agreement, praising the role played by the Fund in supporting Arab economies, enhancing financial stability, and promoting sustainable development.
The MP began her remarks by extending thanks to the joint committee headed by Eng. Tarek Shoukry and to the committee members for their report on the agreement. She emphasized that Egypt has been one of the founding countries of the Arab Monetary Fund since 1976, alongside 21 Arab states, noting that the Fund has played a significant role over the decades in supporting Arab economic integration through concessional financing programs that contributed to reform and development plans across member states.
Soheir Koriem explained that the Egyptian state has benefited from several important financing programs provided by the Arab Monetary Fund over recent years, including financing worth $339 million in 2017 to support the tourism sector, $639 million in 2020 to support the structural reform and financial management program, in addition to $615.8 million during 2023 to support financial inclusion and digital transformation within Egyptian banks.
She added that the Fund provides concessional financing facilities with interest rates ranging between 1.5% and 3%, along with grace periods extending up to two years, which enhances the ability of Arab countries to implement economic reform programs and achieve financial stability.
The MP further stressed that reports issued by the Arab Monetary Fund reflect the confidence of Arab and international institutions in the strength of the Egyptian economy. She noted that forecasts indicate Egypt’s economy is expected to grow at rates ranging between 3.8% and 4.4% during 2025, with anticipated growth rising to 4.7% in 2026, while some estimates suggest growth could reach 5.3%.
She pointed out that these indicators reflect the success of the Egyptian state in implementing structural reforms and efficiently confronting global and regional economic challenges.
Soheir Koriem also underscored the importance of increasing Egypt’s share in the capital of the Arab Monetary Fund, which currently stands at approximately 9.8%, in a manner that reflects the size of the Egyptian economy and its pivotal role in the Arab region.
She explained that under the proposed increase, Egypt will contribute approximately 122.5 million Arab Accounting Dinars, equivalent to nearly $498 million, to be paid over 20 installments across 10 years, stressing that this step represents a strategic investment that will enhance Egypt’s opportunities to benefit from the Fund’s programs and financing in the future.
At the conclusion of her speech, the MP announced her approval of Presidential Decree No. 115 of 2026 in support of the Egyptian economy and in reinforcement of joint Arab economic cooperation.
