The Egyptian Ministry of International Co-operation announced the details of development financing agreements signed with France this week.
This comes as part of the new financing package for the period 2021-2026.
French Minister of the Economy and Finance Bruno Le Maire and CEO of the Agence Française de Développement (AFD) Rémy Rioux and their delegation were in Cairo for the signing.
The ministry said the new package is worth €1.76 billion, of which €776 million comes from the French Treasury and €990 million from the AFD with a view to strengthening cooperation and economic relations between Egypt and France.
The latest agreements cover the supply of rolling stock for line 1 of the Cairo Metro plus €776 million from the French Treasury for the National Tunnels Authority for Tunnels.
Financing from the AFD includes €95 million for the upgrade of the el-Mansoura-Damietta railway line, €250 million for the Abou Qir metro, the Aswan-Toshka-Wadi Halfa Railway Construction project and €250 million for the el- Rubiky-10 Ramadan-Belbeis railway.
The Ministry of Finance will receive €75 million to improve electricity subsidy policies while €50 million will go for a Ministry of Electricity and Renewable Energy regional control center in Alexandria.
A sewage treatment plants in Helwan and East Alexandria will receive €52 million and €68 million respectively.
Funds of €50 million for the third phase of the Gabal el-Asfar Wastewater Treatment Plant will and the Ministry of Supply and Internal Trade will receive €68 million for a wholesale market in Alexandria.
The latest batch of agreements reflect the strong relations between Egypt and France in supporting national development plans in many fields, el-Mashaat said.
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