Egypt’s Planning, UBIFRANCE To Sign Sunday New Finance Agreement
Dr Ashraf Al Araby, Egyptian Minister of Planning and International Cooperation, will hold on Sunday a press conference to sign with the French Agency for International Business Development (UBIFRANCE) an agreement for financing drinking water and sanitation ventures.
The Ministry of Planning and International Cooperation in Egypt has announced recently that it allocated EGP 2.432 billion for the drinking water and sanitation in the governorates besides developing the stations and dilapidated water networks.
Hassan Behnam, Director of UBIFRANCE, the French Agency for International Business Development, in his statements to “Amwal Al Ghad”, said the number of French companies that invest in Egypt increased from 108 to 118 companies and provide as to 42.000 job opportunities.
The agency is aiming at boosting the investments in the forthcoming period in order to reach 150 companies by 2014, said Behnam; indicating that the volume of the 118 French companies’ investments amounted to 3.9 billion Euro.
The UBIFRANCE granted Egypt 300 million Euro included in the aids from the European Union since several months, and 900 million Euro from the European Investment Bank.
