Egyptian Parliament Approves Major Reforms to Future Egypt Development Agency

The Egyptian House of Representatives approved 30 articles of a draft law to reorganize the Future Egypt Agency for Sustainable Development, granting its head ministerial powers to manage the agency, the sovereign and service funds, and to hire top local and international expertise with security clearance. The law outlines the agency’s capital structure, financing sources—including fees, investment returns, state asset revenues, and donations—and establishes parliamentary and Central Auditing Organization oversight.

Lawmakers emphasized the agency’s strategic role in boosting food security and nationwide development. MP Mustafa Bakri highlighted the strong parliamentary and audit controls and the agency’s direct reporting to the president, while MP Alaa Makadi called the legislation a “strategic leap,” urging large-scale projects in Upper Egypt, youth employment programmes, and the development of agricultural‑industrial zones to spur economic growth.