Minister of International Cooperation Rania Al-Mashat met with a delegation from the French Treasury on Sunday to follow up on the status of current projects and harness new opportunities for cooperation between Egypt and France to provide development financing for green recovery, transportation, housing, sanitation, and health.
During the meeting, the delegation affirmed the strength of Egyptian-French relations and the success of President Abdel-Fattah El-Sisi’s visit to France, which took place at the end of 2019, adding that there are long-term plans to support the continuation of development projects in cooperation with several ministries, including the ministries of transport, health, civil aviation, and housing.
The meeting was held in the presence of Ambassador of France to Egypt Stéphane Romatet; Gabriel Cumenge, deputy assistant secretary for the Ministry of Finance of France; Sébastien Raspiller, head of the financial sector department of the French Treasury; Michel Oldenburg, head of the French Economic Mission in Cairo; and Fabio Grazi, director of the French Development Agency in Cairo.
The meeting comes following a visit of the French delegation to a number of Egyptian ministries, which helped identify the upcoming steps to finalise potential agreements, in addition to charting new and different routes to future cooperation.
During the meeting, Al-Mashat underlined the value of cooperation between Egypt and France and the mutual benefit it brings, as it contributes to supporting green recovery and complements national efforts to guarantee economic growth and the provision of universal social standards to their citizens in line with the UN’s sustainable development goals.
In December 2020, Egypt and France inked three financing agreements worth €715.6 million.
Al-Mashat also noted that there are a number of negotiations that were carried out with several authorities and ministries in Egypt a few days ago during the visit of the French Delegation to Egypt in order to discuss the financing details.
These projects include cooperation with French university hospitals to provide technical evaluation and technical studies for the Ministry of Health, and technical cooperation with the French Blood Foundation to develop plasma donation centers.
The minister added that the projects targeted for financing also include the supply of 32 cars for the first line of the metro, the supply of 32 cars for the third line of the metro, the rehabilitation of 32 trains in the second and sixth lines of the metro, and the extension of several railway lines, including Cairo to Wadi Halfa, Libya, Al-Arish to Taba, and the Safaga port.
To promote inclusive development and reshape Egypt’s economic geography, Al-Mashat noted that the discussions also touched upon supporting national projects that aim to develop rural villages in Egypt by developing water infrastructure, providing aerial supervision, and construction.
Al-Mashat also praised the role of the French Development Agency in expressing keenness to finance markets in the governorates of Delta and Alexandria, as well as the Regional Energy Control Centre in Alexandria, and the development of Al-Qasr Al-Aini Hospital, in addition to exploring opportunities for cooperation in digital communications.
The history of cooperation between both countries dates back to 1974, with an economic cooperation portfolio worth €7.5 billion alongside more than 42 inked protocols covering transportation; electricity; civil aviation; housing and utilities; health; agriculture and irrigation; micro, small, and medium-sized enterprises; environment; antiquities; and Education, according to the ministry.
The current cooperation portfolio between Egypt and France amounts to €1 billion.
