Cooperation portfolio bet. Egypt and Germany records €1.7B

CAIRO – 14 June 2020: Cooperation portfolio between Egypt and Germany reached about €1.7 billion, Minister of International Cooperation Rania Al-Mashat said Sunday.

Al-Mashat added in a statement that the cooperation portfolio included 48 projects; most notably the rehabilitation of hydroelectric stations and sanitation, in addition to projects that are being implemented to improve drinking water and sanitation services, infrastructure, and improve public services and small and medium enterprises.

This came during a videoconference meeting with the German ambassador to Cairo Cyrill Nunn, during which they discussed ways to enhance economic relations and speed up the procedures of the third stage of debt swap between the two countries.

Al-Mashat, during the meeting, praised the development cooperation between Egypt and Germany in strengthening economic relations between the two countries, which is one of the best forms of development cooperation with Egypt's development partners in terms of compatibility with the priorities of the Egyptian government.

She indicated that the Egyptian-German cooperation strategy focuses on 4 axes, namely, the water resources sector, irrigation, sanitation and solid waste, the renewable energy and energy efficiency sector, the sustainable development sector, and the cooperation sector in several fields through financing several projects in the areas of urban development, administrative reform and development Social and empowering women.

The Minister pointed out during the meeting that cooperation between the two countries in facing coronavirus was discussed within the framework of the platform formed by the Ministry of International Cooperation with development partners to discuss the response to confront this epidemic.

Al-Mashat stressed that the financial and monetary reforms that the Egyptian government made through the economic reform program helped the Egyptian government to face the negative economic and social effects of the Corona virus, affirming the importance of speeding up the completion of the third stage of the Egyptian-German debt swap program during the next stage.

The minister added that it was agreed to hold government consultations, headed by the Ministry of International Cooperation on the Egyptian side and the German Federal Ministry for Economic Cooperation and Development on the German side, and the participation of the German embassy in Cairo, the German Agency for International Cooperation and the German Reconstruction Bank, in preparation for holding the meetings of the Egyptian-German bilateral committee, to agree on future cooperation between the two countries.

For his part, the German Ambassador to Cairo praised the new strategy of the Ministry of International Cooperation in partnership with international financial institutions based on 3 main axes: the citizen is the focus of ongoing projects and the goal is the driving force, and its role in listing international partnerships in order to shed light on the development partnership, and its impact on Citizen and its role in achieving the sustainable development goals.

He explained that Egypt was able to provide a good experience in the precautionary measures to confront the Corona virus and the measures it was taking to rebuild the post-epidemic stage.