CAIRO - 14 January 2024: Switzerland and the Ministry of International Cooperation (MOIC) have entered into a collaborative agreement, signing two grants valued at $19 million.
These grants aim to support the Ministry of Housing, Utilities, and Urban Communities in implementing the second phase of the drinking water management program in Upper Egypt and the sludge management project in Beni Suef.
The grants are part of a broader joint development cooperation program between Egypt and Switzerland, spanning from 2021 to 2024.
This program encompasses various sectors, such as water, sanitation, green transformation, and the promotion of private sector involvement in development initiatives. In total, approximately $94 million has been allocated for this purpose.
In September 2023, the Minister of MoIC, Rania Al-Mashat, held a meeting with the Swiss State Secretary for Economic Affairs, Helene Budliger, in Sharm El-Sheikh. The objective of the meeting was to explore opportunities for enhancing collaboration between the two nations.
Furthermore, Al-Mashat engaged in discussions with the Swiss Ambassador to Egypt, Yvonne Baumann, focusing on preparations for the joint cooperation program between Egypt and Switzerland for the period from 2025 to 2028.
Highlighting the significance of Switzerland's investments in Egypt, Minister of Trade and Industry, Ahmed Samir, noted that Switzerland ranked 15th among the most important countries investing in Egypt.
These investments amount to nearly $2.2 billion, spread across 433 projects. Moreover, the volume of trade between Egypt and Switzerland experienced a 7.8 percent increase, reaching $1.52 billion in 2022 from approximately $1.41 billion in 2021, as stated by Minister Samir.
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