International Cooperation Minister Rania Mashat underlined the depth of the Egyptian-French ties, referring to the implementation of several development projects.

The Egyptian-EU declaration that was signed at the strategic partnership level will contribute to realizing further progress in their relations, Mashat said.

Mashat made the remarks during a meeting with French Ambassador in Cairo Eric Chevallier and Regional Director of the French Development Agency (AFD) Cécile Couprie.

Minister Mashat highlighted the efforts exerted by the state for governance and improvement of the efficiency of investment spending within the framework of the government program to ensure macro-economy stability and boosting private sector investments.

Mashat referred to the launch of a regional strategy between Egypt and the AFD until 2025 which crowns the flourish of bilateral ties.

She added that the AFD injected total financing of over 3 billion euros to the private and public sectors since 2006 in addition to administer
ing 150 million euro development grants of the EU.

For his part, the French ambassador asserted his country’s keenness on bolstering ties with Egypt, especially with the private sector, in addition to localizing industry and boosting investments in Egypt.

The talks tackled France’s contribution to implementing projects of the Nexus of Water, Food and Energy (NWFE) Program.

In 2020, the Ministry of International Cooperation and the AFD signed a deal on providing a comprehensive package of development financing to accelerate economic recovery and green transformation, and support investment in human capital.

During the visit of the French Minister of Economy and Finance, Bruno Le Maire, an agreement worth 1.76 billion euros, was signed between the Egyptian and French governments.

Source: State Information Service Egypt