JICA grants Egypt US$80 million Total Finances in 2014

Egypt registered total finances estimated at US$80 million granted by Japan International Cooperation Agency (JICA) throughout 2014, Cairo office chief representative Hideki Matsunaga stated.

This comes in addition to other commitments to carry out other projects in Egypt estimated at around US$350 million, the Japanese official elaborated.

In recent statements to Amwal Al Ghad, Matsunaga referred that JICA’s projects in Egypt are in fields of transportation and tourism such as the Grand Egyptian Museum, Cairo Metro, and the upgrade to electricity stations.

JICA is gearing up to get to know the latest investment opportunities to be presented in Egypt’s upcoming economic summit scheduled for next March in Sharm El-Sheikh to get to know, Matsunaga noted.

Moreover, JICA’s official also stated that the Japanese government is keen to support the Egyptian economy through pumping more investments and providing more grants and assistance packages in the coming period.

Egypt’s development cooperation with the Japanese agency dates back to 1970s.

JICA has recently announced plans to finance two projects in Egypt; the first to upgrade an electricity distribution network in Greater Cairo and the second to build a passenger terminal and new lanes for Borg Al-Arab Airport in Alexandria, with investment cost of US$180 million.