Egypt signs development funds worth €715.6M with AFD
- Date: 09-Dec-2020
- Source: Egypt Today
- Sector:Financial Markets
- Country:Egypt
Egypt signs development funds worth €715.6M with AFD
Minister of International Cooperation Rania Al-Mashat - Press Photo
CAIRO – 9 December 2020: Egypt signed development funds worth €715.6 million in several development sectors with the French Development Agency (AFD).
The Ministry of International Cooperation said in a statement, Wednesday, that these funds come as part of the activities of President Abdel Fattah Al-Sisi's visit to France to discuss bilateral cooperation in all fields, with French President Emmanuel Macron.
The funds were signed by Egypt's Minister of International Cooperation, Rania Al-Mashat, and Director of AFD Remy Roux, within the framework of the Memorandum of Understanding for the Strategic Partnership in Social and Economic Development, worth €1 billion, for 2019/2023, which were signed during the visit of the President of France to Egypt on January 28, 2019.
The Minister of International Cooperation signed 7 documents, with the Director of AFD which are financing the energy sector policy support program, with a value of €150 million, and €1 million grant, with the aim of building capacity to develop a