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Tuesday, 26 October 2021

Madbouly had a busy day in France

Prime Minister Mostafa Madbouly met with representatives of 90 French companies in Paris yesterday at the Movement of the Enterprises of France (MEDEF) to drum up investment. The PM has been in Paris since Sunday to sign an agreement on cooperation between Egypt and the Organisation for Economic Co-operation and Development (OECD).

Also on the investment front: The PM separately sat down with his French counterpart, Jean Castex, to discuss up investment in the fields of automotives and water desalination. Madbouly also met with Orange Middle East CEO Alioune Ndiaye and Crédit Agricole Group Chief Executive Officer Philippe Brassac, while also meeting with representatives of the French University in Egypt, which is due to open its doors soon.

EUR 1.6 mn in financing on the way for Cairo Metro’s sixth line: France is putting together EUR 1.6 mn in financing for technical studies on the planned sixth line of the Cairo Metro, and it expects the financing to be ready by the end of the year, French Economy and Finance Minister Bruno Le Maire told Madbouly in a separate sit-down. The USD 5 bn, 30 km line saw its master contract awarded to US giant Bechtel late last year, but it has lined up funding from Canada, the US, Britain, France and Japan.

Also from PM’s visit: The ITC Ministry and France’s Economy and Finance Ministry signed a declaration of intent to cooperate in using advanced tech and AI to offer government services, as well as explore ways to apply AI to several areas including energy efficiency, managing climate change, water management and irrigation, healthcare, and cultural heritage.

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