Egypt signs 4 bln euro deals with France

Egypt signs 4 bln euro deals with France Mon, Jun. 14, 2021
CAIRO - 13 Jun 2021: Egypt and France will sign a number of cooperation agreements, worth 4 billion euros, announced Egyptian Prime Minister Mustafa Medbouli in a meeting with French Finance Minister Bruno Le Maire and his accompanying delegation on Sunday.

“The deals are expected to provide a financing package worth 1.7 billion Euros, 776 million Euros from the French government and 990 million Euros from the French Development Agency, to fund projects in the fields of transport, housing, electricity, education, and wholesale markets,” state-owned news agency MENA reported.

Egypt is studying a number of projects that represent promising opportunities for future partnership with France, especially in the fields of water treatment and irrigation, said Egypt’s cabinet in a statement on Sunday.

The French Minister of Economy revealed a road map for cooperation in the field of transport, as France would finance a project to renew the first line of the Cairo metro and to establish the sixth line of the metro, besides operating and maintaining the third line of the subway and the electric train (Al-Salam - Tenth of Ramadan ).

He also added that his country provided Egypt facilities on soft loans within the framework of the road map, which will include exempting Egypt from the "risk guarantee fees”, as a result of the stability and confidence that Egypt currently enjoys.