Egypt signs €200M support loan agreement with JICA

Egypt signs €200M support loan agreement with JICA

During the signing ceremony- Press Photo







CAIRO – 15 February 2021: Egypt signed Monday a budget support loan agreement totaling JPY 25 billion (equivalent to €200 Million) with Japan International Cooperation Agency (JICA). 

 

The agreement was signed by Chief Representative of JICA's Egypt Office Omura Yoshifumi, and Vice Minister of Finance for Fiscal Policies and Institutional Reform Ahmed Kojak on behalf of the Minister of Finance, Mohamed Maait.

 

The signing was witnessed by Ambassador of Japan to Egypt, Masaki Noke, Minister of International Cooperation, Rania Al Mashat, and first Undersecretary of Ministry of Electricity and Renewable Energy; Ahmed Mohina on behalf of Minister of Electricity, Mohamed Shaker.

 

According to JICA, the finance comes at an important timing amid the global challenges of COVID-19 pandemic.

 

It added that the funding is expected to boost the liquidity for Egypt while supporting critical reforms for improving the governance and financial sustainability of power