Egypt-France sign financing treaties worth EUR 715,6 million


Rania Al-Mashat, Minister of International Cooperation, emphasized the importance and the mutual benefit of partnership between Egypt and France by contributing to the promotion of green recovery and commending national efforts to ensure economic development as well as provide their people with universal social standards, in line with the 17 Sustainable United Nations sustainable development Goals Nations. Both countries entered into three financing treaties value EUR 715,6 million.

This came at a conference between A-Mashat and the French Treasury Representatives to follow up on the progress of upcoming projects and to seize opportunities in partnership between Egypt and France aim of providing extra funding for environmental reconstruction, transport, accommodation, healthcare and wellness.

The meeting took place in the participation of France's Ambassador to Egypt, Stéphane Romatet; Gabriel Cumenge, Deputy Associate Director of the French Ministry of Finance; Sébastien Raspiller, Head of the Finance Industry Section of the French Treasury; Michel Oldenburg, Director of the French Economic Mission in Cairo; and Fabio Grazi, Director of the French Treasury Department, in order to strengthen collaborative governance and project tracking.

The meeting continues a tour to a variety of Egyptian ministries by the French representatives, which helped to determine the next actions to finalize possible partnerships, in addition to suggesting new and innovative paths for economic development.

Engaging with key stakeholders in areas of mutual interest would facilitate our strategies in achieving the Sustainable development goals, Al-Mashat said, emphasizing that a range of discussions were held a few days ago in Egypt with a few authorities and ministries during the French Delegation's visit to Egypt to know the implications of financing.

Such collaborations involve partnerships with French university hospitals to provide the Ministry of Health with functional assessments and experimental testing, and technical assistance with the EFS French Blood Foundation to improve plasma donating stations.

The Report states that the funding initiatives would include the supply of 32 vehicles for the first line of the metro, in parallel to the supply of 32 vehicles for the third line of the metro, the reconstruction of 32 trains for the second and sixth lines of the metro, the expansion of the railway from Cairo to Wadi Halfa and the Libya railway track, as well as the El Arish-Taba and Sa Sa line.

In effort to enhance community growth and redefine the economy and quality of life of Egypt, Al-Mashat mentioned that the conversations also addressed assistance for infrastructure investments designed to improve small villages in Egypt, especially with regard to water infrastructure investment, satellite reconnaissance and building.

In order to discover opportunities for digital networks collaboration,as reported by Egypt Today, Al-Mashat also highlighted the participation of the French Welfare Association in voicing its willingness to fund markets in the provinces of Delta and Alexandria, as well as the Regional Energy Control Center in Alexandria and the growth of Al-Qasr Al-Aini Hospital.

The French delegation reiterated the depth of the Egyptian-French relationship and the progress of the previous presidential engagement, which held at the end of last year, explaining that, in collaboration with many ministries, along with the ministries of transportation, healthcare, civil aviation and housing, there are long-term proposals to help the continuity of development activities.

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