Egypt and France Strengthen Strategic Partnership with €1.76 Billion Development Agreement

CAIRO - 22 September 2024: Egypt-France relations have seen significant growth in recent years, reflected in the implementation of numerous development projects in priority sectors through cooperation with the French Development Agency (AFD).

A report from the Ministry of Planning, Economic Development, and International Cooperation highlighted a joint declaration between Egypt and the European Union, which upgraded the relationship to a strategic partnership, advancing Egypt’s ties with European nations.

The report noted that in 2020, an agreement was signed between the Ministry of International Cooperation and AFD, providing a comprehensive development finance package to accelerate economic recovery, green transition, and support investment in human capital. During a visit by French Economy and Finance Minister Bruno Le Maire, an agreement was reached between the Egyptian and French governments to fund priority development projects in Egypt under the 2021-2025 strategy, amounting to €1.76 billion.

The report also outlined advancements in joint relations under the "Team Europe" initiative, where agreements totaling €1.5 billion were signed with the French government and AFD between 2020 and 2023. These agreements cover key areas such as food security, sanitation, smart transportation, railways, housing, education, higher education, environment, women's empowerment, social protection, and energy.