Cairo – Mubasher: Egypt’s Minister of International Cooperation, Rania El-Mashat, and the Ambassador of France to Egypt, Stefan Romettier, discussed the developments of the EUR 1 billion strategic partnership agreement in social and economic development, signed in 2019 with the French Development Agency (AFD).
The meeting was attended by Fabio Grazi, Director of the Office of the AFD, and Michel Olenberg, Director of Business France Agency, according to statement on Tuesday.
Under the agreement, several projects will be implemented, including upgrading Cairo Metro Line 1 with a value of EUR 50 million and financing priority sectors in energy sector with a value of EUR 150 million as well as a grant of EUR 1 million.
In addition, negotiations are underway for supporting the universal health insurance programme with a value of EUR 150 million, financing the Mansoura-Damietta railway with EUR 90 million, upgrading Abu Qir Railway into an electric metro with EUR 250 million, and re-establishing the French National University in Egypt with EUR 12 million.
The AFD has provided Egypt with EUR 1.6 billion in loans and EUR 12.6 million in grants since 2016.
France’s cooperation portfolio in Egypt has reached EUR 5.360 billion through 42 protocols of cooperation since 1974.
