Egypt, EIB sign two agreements worth EUR 32 mn
Egypt and the European Investment Bank (EIB) signed two agreements for grants worth EUR 32 mn (EGP 662 mn) to support sewage treatment projects in Kafr el Sheikh, according to an Investment Ministry statement. The agreements will allow EIB to help implement infrastructure projects throughout 79 villages. EIB had previously said that it intends to sign funding agreements with Egypt worth a combined EUR 589 mn before the end of the year, including a EUR 214 mn loan for the Kafr El Sheikh Kitchener drainage project and another EUR 375 mn to support the country’s private sector.
In other diplomacy news:
- A number of Indian companies signed MoUs with Egyptian partners last week that should see them cooperate on projects in IT, pharma, and renewable energy.
- A Moroccan trade delegation will be in Egypt next monthto discuss ways to step up Egyptian exports to West Africa through Rabat.
- Foreign Minister Sameh Shoukry talked power interconnection with his Greek and Cypriot counterparts ahead of a planned summit set to take place soon.
- Shoukry also met with Eritrean President Isaias Afwerkiin Asmara on Thursday to discuss bilateral relations and cooperation and D-8 Organization for Economic Cooperation Secretary General Dato Ku Jaafar Ku Shaari
- European Council President Donald Tusk and Austria’s Chancellor Sebastian Kurz held talks with President Abdel Fattah El Sisi yesterday during an official visit to Egypt. Illegal migration was at the top of the agenda.