French Development Agency to provide €715 mln for transport, health projects in Egypt

The French Development Agency (AFD) is providing €715.6 million ($864.6 million) in financing to support an array of development projects in Egypt, according to an Egyptian Cabinet statement released on Wednesday.

The agency signed seven agreements with Egyptian International Cooperation Minister Rania Al Mashat in Paris yesterday in a meeting coinciding with President Abdel Fattah al-Sisi’s trip to the French capital for talks with President Emmanuel Macron.

The funds come as part of a larger €1 billion strategic partnership agreement between the two countries first signed in 2019.

The Abu Qir railway project will receive €250 million, €150 million will be earmarked for developing an energy policy evaluation system that will assist in regulating the transition towards a more sustainable transit infrastructure, and the Tanta-Mansoura-Damietta railway modernisation project will be allocated €95 million. Health, education and wastewater projects will also get funding.