Egypt creates independent fund for Suez Canal

Egypt has established a new fund for the Suez Canal manage its own revenues independently.
REMKO DE WAAL/ANP/AFP via Getty Images
The container ship Ever Given arrives in the port of Rotterdam early on July 29, 2021. - REMKO DE WAAL/ANP/AFP via Getty Images
MohammadHanafi.jpeg
Mohammad Hanafi
@mohamedhanfy4

CAIRO — Egypt has established a special fund to manage and make use of the Suez Canal's revenues, amending Law No. 30 of 1975 to do so.

The amended law, approved on July 20, established the Suez Canal Authority Fund, an independent legal entity headquartered in Ismailia governorate.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more