Cairo: Egypt is in negotiations with Germany over a debt swap agreement valued at pound 100 million, set to be released in two tranches, as announced by International Cooperation Minister Rania Al-Mashat. The discussions were revealed during a joint press conference in Cairo, attended by Foreign Minister Badr Abdelatty and Germany's Minister for Economic Cooperation and Development Reem Alabali-Radovan.

According to State Information Service Egypt, Minister Al-Mashat stated that the first tranche of the debt swap is anticipated in December 2025, with the second tranche expected in June 2026. This new agreement aims to expand upon an existing debt swap program between Egypt and Germany, where portions of Egypt's debt are converted into local investments in key sectors such as education, climate, and infrastructure.

Al-Mashat emphasized the importance of these negotiations, highlighting the robust Egyptian-German development cooperation and their mutual focus on supporting sustainable development projects. With the addition of this new agreement, the total value of debt swaps between the two nations is projected to reach pound 340 million, as reported by the Ministry of International Cooperation.

The announcement coincided with a broader visit by the German minister to Cairo, where discussions encompassed economic partnerships, regional developments, and efforts to support the reconstruction of Gaza.