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Monday, 14 June 2021

More details on the Egypt-France financing agreement

More details of the EUR 3.8 bn in agreements and contracts signed with France yesterday, courtesy of the cabinet.

Transport: Funding from the French government will go towards a raft of transport projects, including the supply of 55 new trains for Cairo Metro Line 1, the rehabilitation of the Mansoura-Damietta railway, the construction of the Aswan-Toshka rail line, and the Abu Qir metro conversion project, the cabinet said.

Energy + wastewater: Funding will also be earmarked for energy, electricity, housing and wastewater projects, the statement said. This includes wastewater plants in Helwan and Alexandria, a power control center in Alexandria, and the establishment of a wholesale market in Borg El Arab.

READ OUR FULL INTERVIEW WHEN IT COMES OUT THIS WEEK- In it, Le Maire tells us of his administration’s ambitions to make France among Egypt’s top three trading partners from a current eighth. He explains to us why France has been accelerating its economic cooperation with us over the past four years and where he wishes to see this cooperation go. We also talk about what the G7 tax agreement could mean for us. You don’t want to miss it.

ALSO IN DIPLOMACY-

Egypt, Pakistan talk defense: President Abdel Fattah El Sisi and Defense Minister Mohamed Zaki discussed military ties and organizing joint drills during a meeting in Cairo yesterday with the chairman of Pakistan’s Joint Chiefs of Staff, Ittihadiya said in a statement.

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