Egypt signs 4 agreements with France worth €60M

CAIRO – 8 March 2018: Egypt signed four agreements with France in the fields of energy, transportation, health care and small and medium enterprises (SMEs) at the Ministry of Investment and International Cooperation with a total value of €60 million.

The Minister of Investment and International Cooperation Sahar Nasr and Minister of Electricity Mohamed Shaker, signed an agreement worth € 1.5 million for financing the technical support of the energy field with French Ambassador to Cairo Stephane Roumatier and Manager of French Development Agency Stefani Franchi.

Nasr and Minister of Health Ahmed Emad el-Din signed an executive agreement of the financial grant for health care with the French part with a value of €130,000.

A financial grant of €50 million was also signed to finance the activities of microfinance and SME projects run by women to develop their activities, in conjunction with the International Women's Day.

Nasr said that all signed agreements are non-refundable grants from France to support successful sectors in Egypt.

The minister of electricity said that the health care grant targets to boost the energy sector’s governance and to get the maximum benefit of energy usage.

French Development Agency participated in financing a number of important projects in Egypt with a budget of €1.76 billion, in addition to grants from the European union directed by the agency that were worth €106.8 million.