Cairo – Mubasher: Agence Francaise De Developpement (AFD) has agreed to support Egypt’s social protection programme with around EUR 60 million over the coming period.
The French state's development agency will also allocate nearly EUR 2 million as a grant for the technical support, the agency’s deputy CEO Jeremie Pellet said.
This came in light of France’s trust in the Egyptian economy and reforms, mainly in business and investments, which encourages the AFD to finance and support new development projects in the North African nation, according to a statement by the Egyptian investment ministry.
The AFD has helped in financing a number of important projects in Egypt, mainly financing the third line of Cairo Metro, small- and micro-enterprises, household natural gas connection, and agricultural small- and medium-sized projects, Pellet highlighted.
The agency also contributed to improving the services of drinking water and sewerage in the Arab world's most populous country, as well as in a 26-megawatt solar cells plant at Kom Ombo, the Upper Egypt governorate of Aswan and in a wind turbine at the Gulf of Suez, he added.
The AFD has helped deliver gas to households, and bolster healthcare sector in the Arab nation, he said, pointing out that the agency has approved an EUR 175 million programme for the energy sector.
This came on the sidelines of a meeting between Egyptian investment and international cooperation minister Sahar Nasr and the AFD’s deputy CEO Jeremie Pellet.
