It would be nice if those banks had taken an interest earlier, when the economy and political situation were a lot more conducive to investment.
Fitch and Moodys have just downgraded Egypt to close to junk status, which increases funding costs, risks and guarantees required. Banks need a good reason to step in where others fear to tread, but it is still possible.
www.moodys.com/research/Moodys-downgrades-Egypts-government-bond-rating-to-Caa1-negative-outlook--PR_268605
Rating Action: Moody's downgrades Egypt's government bond rating to Caa1, negative outlook
Global Credit Research - 21 Mar 2013
"Other sovereigns rated in the same broad-letter category include Cyprus"
mining fund guff, page-3
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