Egypt signs €1.7 billion of financing deals with France

Egypt signs €1.7 billion of financing deals with France
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Egypt has signed 1.7 billion euros ($2.06 billion) worth of deals with France to finance projects in the transportation, infrastructure, electricity and wholesale sectors, the cabinet said. (AFP)
Egypt signs €1.7 billion of financing deals with France
2 / 2
Egypt has signed 1.7 billion euros ($2.06 billion) worth of deals with France to finance projects in the transportation, infrastructure, electricity and wholesale sectors, the cabinet said. (AFP)
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Updated 14 June 2021

Egypt signs €1.7 billion of financing deals with France

Egypt signs €1.7 billion of financing deals with France
  • Of the financing, 776 million euros came from the French government and 990 million euros from AFD
  • The signings came during a visit by French finance minister Bruno Le Maire to Cairo

CAIRO: Egypt has signed €1.7 billion ($2.06 billion) worth of deals with France to finance projects in the transportation, infrastructure, electricity and wholesale sectors, the cabinet said on Sunday.
Of that financing, €776 million will come from the French government and €990 million from AFD, France's development agency, the cabinet said.
The signings came during a visit by French finance minister Bruno Le Maire to Cairo.
In May, France announced a €4 billion deal to deliver 30 Dassault warplanes to Egypt beginning in 2024, strengthening ties with what it considers a vital partner in fighting Islamist militants.
Projects announced on Sunday by the cabinet include sanitation stations as well as a number of railway projects, including the provision of 55 new cars for the Cairo metro's oldest line and the construction of a railway line between Aswan in southern Egypt and Wadi Halfa in neighbouring Sudan.
AFD will provide €150 million  in support of Egypt's universal health insurance programme, the cabinet said.