France Grants Egypt 300m Euros To Develop Cairo Metro

France has granted Egypt 300 million euros ($392 million) to help build a new underground line, the Egyptian foreign minister told reporters on Tuesday.

Mohamed Kamel Amr’s announcement came after President Mohamed Morsi met in Cairo with French foreign minister Laurent Fabius. It was Morsi’s first top level meeting with officials from the Eurozone’s second largest economy.

France has already provided significant technical assistance and financial support in building Cairo’s underground — or Metro — which first opened in 1987. The capital currently has three underground lines.

Fabius, for his part, hailed the strong relationship between France and Egypt.

Morsi and recently-elected French president Francois Hollande will meet for the first time at a United Nations gathering in New York City in October.

Ahram online