Egypt signs agreement to establish 2 offices of GIZ, KFW in Cairo

CAIRO – 7 June 2018: Egypt and Germany signed Thursday an agreement to set up two offices for the German Agency for International Cooperation (GIZ) and KfW Development Bank (KFW) in Cairo.

The agreement was signed by Minister of Investment and International Cooperation Sahar Nasr and Ambassador of Germany to Cairo Julius Georg Loy, in the presence of Director of KfW in Cairo, Borchard Haines and Director of GIZ, Andreas Kok.

The statement revealed that the agreement stipulates the establishment of two offices in Cairo with the aim of supporting developmental cooperation between Egypt and Germany.

The statement clarified that the two offices are the offices of the German Agency for International Cooperation (GIZ) and KfW Development Bank (KFW) which will support the implementation of mutual projects between Egypt and Germany.

The GIZ office will be responsible for providing support to programs and projects that the agency implements in Egypt, while the KFW is going to provide financial cooperation to the institutions on behalf of the Government of the Federal Republic of Germany.

The minister of investment affirmed that Egypt started a new stage of strategic relationships and development programs with Germany.

She added that Germany offered funds to support the Egyptian economic reforms, infrastructure and linkage networks.

Germany is keen to support small and medium enterprises in the framework of an integrated system to support the Egyptian economy, the minister said.

For his part, the German ambassador said that the comprehensive development programs followed by the Egyptian government contribute to the political and economic stability, noting that the Egyptian society possesses creative energies that contribute to enhancing cooperation between the two countries.

KFW participates in the development process in Egypt through financing several sectors, including renewable energy, water resources and solid wastes sectors, as well as providing grants for complementary works associated with project implementation, such as projects of the rehabilitation of hydroelectric power stations and renewable energy, energy efficiency solar power plant, energy efficiency program, and financing of micro, small and medium projects.

While GIZ provides technical support through grants in several sectors, the most important of which is sustainable economic development as well as other areas that support institutional development in the government.