The Ministry of International Cooperation announced on Wednesday the details of the ongoing development cooperation portfolio between Egypt and France, which amounts to one billion Euros.
The details aim at accelerating the transition to a green recovery and investing in human capital, this amount is distributed among many vital development sectors, namely transportation, electricity, small and medium enterprises (SMEs), housing, utilities and urban development, agriculture, health, and environment.
The ongoing cooperation portfolio between Egypt and France includes 15 projects in several development sectors, including four projects in the transport sector making up for €300 million in development financing for the implementation of the third metro line’s third phase.
This is in addition to the €100 million that went to the rehabilitation of the Raml tram project, €48.75 million for the development of the first metro line, and the partnership agreement for a technical support grant worth €500,000.
France also provided €50 million to the Ministry of Environment allocated in a program that addresses industrial pollution in its third phase, through the National Bank of Egypt. This is in addition to supporting primary health care with €30 million and a grant of one million euros.
The current portfolio also includes the financing of €50 million and a grant of one million euros in favor of supporting women's enterprises through the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA).
The cooperation portfolio with France also includes a project to deliver natural gas to homes worth €70 million through the EGAS company; a subsidiary of the Ministry of Petroleum and Mineral Resources.
The portfolio also encompasses a financing agreement for SMEs in the agricultural sector at a value of €22 million, a program supporting the social protection sector through €60 million and a grant worth one million euros, and a one million study fund grant agreement.
There are also two projects with the Ministry of Electricity and Renewable Energy. The first project is the establishment of a regional control center in the Delta region worth €50 million, and the second is the establishment of a wind power plant in the Suez also worth €50 million.
This is in addition to two projects with the Ministry of Housing, Utilities & Urban Communities encompassing €57 million being allocated in improving drinking water services and sanitation at its second stage, and the establishment of a unit for treating sludge from the Alexandria Sewage Treatment Plant at a value of €50 million.
Earlier, Minister of International Cooperation Dr. Rania Al-Mashat, and Director of the Agence Française de Dévelopement Rémy Rioux, signed a comprehensive package of development financing agreements worth €715.6 million.
Al-Mashat also met the French ambassador to discuss the ongoing portfolio of cooperation, and to discuss the expansion of developing partnerships between the two countries, to support the national development agenda, and Egypt's endeavor to achieve the 17 UN Sustainable Development Goals.
The total economic cooperation portfolio between the two countries since 1974 amounts to €7.5 billion, through more than 42 cooperation protocols in various sectors, including transport, electricity, civil aviation, housing and sanitation, health, agriculture, irrigation, SMEs, environment, archeology, and basic and technical education.
The ministry aims to develop and strengthen economic relations with multilateral and bilateral development partners, in accordance with the mandate by a presidential decree that defined the tasks of the ministry from early on.
The mandate is to develop and strengthen the economic cooperation between Egypt and other countries, as well as international and regional organizations; propose the criteria for obtaining external financing and foreign grants; follow up and monitor national agencies that benefit from foreign financing within the framework of the general economic policy of the country to ensure achieving the economic development goals; and manage Egypt’s economic relations with international organizations of economic cooperation, international financial institutions and specialized agencies of the United Nations.
Follow the latest news on Google News
