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Thursday, 28 June 2018

AFD pledges EUR 60 mn for Egypt’s social welfare

AFD pledges EUR 60 mn for Egypt’s social welfare: The French Development Agency (AFD) has agreed to provide Egypt with a EUR 60 mn loan to support social welfare in Egypt, AFD’s Deputy Chief Executive Officer Jeremie Pellet told Investment and International Cooperation Minister Sahar Nasr during a meeting in Paris yesterday, according to an emailed ministry statement (pdf). The agency will also offer a EUR 2 mn technical grant, according to Pellet. No further details were provided on the funding.

Egypt signs MoU to promote investment, cooperation with Euro-Mediterranean countries: Nasr also signed an MoU with the Mediterranean World Economic Foresight Institute (IPEMED) to increase cooperation and investment among Euro-Mediterranean countries, and promote investments in Egypt through its recently unveiled Investment Map, the statement says.

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