French Development Agency, Egypt sign €259 million financing agreements

Egypt and the French Development Agency (AFD) have signed Monday four financing agreements totalling €259 million ($281.5 million) in energy, waste water, and health sectors.

Egyptian Minister of Investment and International Cooperation Sahar Nasr and Laurence Breton-Moyet, Executive Director in charge of Operations of the AFD, have signed the agreements.

The first agreement includes €175 million financing in favour of the Egyptian Ministry of Finance, designated to support the government’s energy sector reform programme.

As for the second agreement, AFD provides €3 million grant to finance the Egyptian Ministry of Electricity’s technical support programme.

The third agreement comprises €50 million to finance the treatment plan for a waste water plant in Alexandria.

According to the fourth agreement, AFD offers €31 million to finance the country’s primary health care support project.