Back to the complete issue
Wednesday, 7 October 2020

Diplomacy + Foreign Trade on 8 October 2020

Topping diplomatic coverage this morning: We now know how the EUR 1 bn loan agreement signed with the French Development Agency (AFD) last year will be spent, following a meeting between International Cooperation Minister Rania Al Mashat and French Ambassador to Cairo Stéphane Romatet yesterday. The four-year agreement is set to last through 2023 and will channel funding to various infrastructure development, health, education, energy and water management projects. Some of the most notable allotments include:

  • EUR 250 mn for the Abu Qir electric railway conversion project
  • EUR 155 mn for water management and sanitation projects in Helwan
  • EUR 150 to finance unspecified energy development projects
  • EUR 150 mn to support the government’s universal health insurance scheme.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.