French Development Agency: Egypt investments record €941.4 million so far

The French Development Agency (AFD) has invested €941.4 million ($1.02 billion) in Egypt through several major projects since the start of its activities in the country, an official in the AFD said Monday.

This comes in addition to €941.4 million worth of grants from the European Union, Laurence Breton-Moyet, Executive Director in charge of Operations of the AFD, further said in a press conference in Cairo.

The AFD has started its activities in Egypt in February 2007 with the opening of the Cairo Office, which has accelerated project identification and appraisal and enhanced the dialogue with the Egyptian administration and the French agency’s potential partners in the public and private sectors.