Egypt in talks over €175mn agreements with Germany

Egypt is negotiating with Germany seeking to sign cooperation agreements worth more than €175 million (US$192.5 million).

Egyptian Minister of International Cooperation Sahar Nasr met Monday with Julius Georg Luy – German ambassador to Cairo to discuss means to boost the future cooperation ties between the two countries alongside to discuss signing €175 million agreements.

Egypt and Germany are expected to sign an agreement for financial cooperation worth €65 million to finance micro, small, and medium-sized projects, improve irrigation, sanitation, as well as waste management systems, and to establish centres for technical and vocational training.

Additionally, the two countries are also to sign a €46.26 million grant agreement to finance the technical support for a number of developmental projects in Egypt, in cooperation with the German Agency for International Cooperation (GIZ).

A third agreement between Egypt and Germany will be at value of €10 million to finance the second phase of a programme to support the quality of education by building and renovating schools in Egypt’s Al Sharqia governorate.

Meanwhile, ambassador Luy said the German government plans to secure around €54 million package for Egypt. Germany’s Egypt package shall encompass a €30 million loan to establish a solar energy station, a €20 million financing to boost the vocational and technical education, in addition to a €4 million grant to enhance the country’s dual education system.

Minister Nasr asserted that Germany is a key strategic partner for Egypt on all the political, economic, and cultural levels. The German assistance to Egypt has contributed to fund multiple programmes and projects that serve pivotal sectors in Egypt, she added.