French Minister of Economy and Finance, Bruno Le Maire, confirmed today, Monday, that his country will work to ensure that Egypt obtains the wheat it needs in the coming months.
"We will be by Egypt's side in obtaining the wheat it may need in the coming months," Le Maire said during his visit to Egypt.
This comes in light of the global wheat market turmoil and high inflation, as Egypt relies heavily on wheat imported from Russia and Ukraine.
In another context, Egyptian Prime Minister Dr. Mostafa Madbouly witnessed the signing of a financing agreement between Egypt and France to finance a project to manufacture and supply 55 air-conditioned trains for the first metro line within the Ministry of Transport's plan to develop the line, with a value of 776.9 million euros.
The agreement encompasses maintenance work for 8 years with the supply of The workshop equipment required for maintenance work, as the French company "Alstom" will implement the project.
The term of the loan is 40 years, including 15 years as a grace period and 25 years as a repayment period, at an interest rate of 0.0092%. The total value of the Egyptian government’s contribution to financing the deal is EGP 1.18 billion, as the percentage of the local component in manufacturing is 13.3% through cooperation with the SEMAF factory.
The contract was signed by the team, Engineer Kamel Al-Wazir, Minister of Transport, and Bruno Le Maire, French Minister of Economy and Finance.
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