Minister of Investment Sahar Nasr with the Swiss State Secretary for Economic Affairs Marie-Gabrielle Ineichen-Fleisch - Press photo
CAIRO - 13 December 2017: Egypt and Switzerland have signed a joint declaration for a strategic cooperation program between the two countries for 2017-2020 at a total value of 86 million francs.
Minister of Investment and International Cooperation Sahar Nasr signed for the Egyptian side, while Swiss State Secretary for Economic Affairs Marie-Gabrielle Ineichen-Fleisch signed for her country.
In a press statement released on Wednesday, Nasr said the cooperation agreement will include investment in the New Administrative Capital, new cities, water desalination stations, social housing, banking and financial sectors as well as funding of women and youth projects.
The minister explained that existing cooperation projects covered dangerous waste management of hospitals in Daqahliya governorate at a value of 9.2 million franc, water and sanitation projects in four Upper Egypt governorates; Qena, Sohag, Assiut and Minya.
The Swiss minister, for her part, asserted that Switzerland's main priority is to create job opportunities and improve the living standards of Egyptians.
In a statement released on Monday, the Swiss Embassy said the Swiss minister's two-day visit to Egypt comes as part of a long-standing Egyptian-Swiss partnership as Switzerland has been financing development projects in Egypt in several fields namely; democratic change, economic growth, human rights as well as immigration.
The statement noted that such projects are being run and implemented through cooperation with the international cooperation office at the Swiss Embassy in Cairo.
The total budget of the Egyptian-Swiss Cooperation Strategy for 2017-2020 is expected to reach 86 million francs, according to the statement.
The Swiss minister is expected to tour a number of development projects sponsored by her country in Egypt, including the National Center for Blood Transfusion which was established in Cairo through cooperation between the Egyptian and the Swiss sides.
She will also pay a visit to Badr University which received dlrs 10 million in finance to upgrade the quality of education offered to Egyptians.
Meanwhile, Swiss Ambassador in Cairo Paul Garnier said his country decided to extend cooperation projects with Egypt for another four years, a matter which proves his country's commitment to Egypt's development vision for 2030.
He also said Egypt is considered the third trade partner for Switzerland in Africa and the fourth in the Middle East and North Africa as the volume of trade exchange hit 1.3 billion francs in 2016.