Cairo – Mubasher: In the context of the Egyptian President Abdel Fattah El-Sisi’s visit to France to strengthen bilateral relations, Minister of International Cooperation, Rania El-Mashat, and Rémy Rioux, Director of the French Development Agency (AFD), signed a comprehensive package of development financing agreements worth EUR 715.6 million that are aimed at accelerating the transition to a green recovery and investing in human capital.
The agreements come within the framework of the 2019-2023 strategic partnership in social and economic development between Egypt and France, which is worth EUR 1 billion, according to a statement on Wednesday.
To push for a green recovery and integrate the sustainable development goals (SDGs) into development financing, EUR 150 million will be dedicated to supporting the energy sector budget support programme, in addition to a EUR 1 million grant to promote capacity building and developing an assessment tool on the direct and indirect socio-economic impact of the projects. The agreement also supports the implementation of regulations and policies developed by the Egyptian Electric Utility and Consumer Protection Regulatory Agency, encouraging electric transport as well as the application of international standards and recommendations directed at Egypt.
To protect the health of Egyptian citizens amid the COVID-19 pandemic, El-Mashat signed a comprehensive health insurance programme worth EUR 150 million, which will ensure that the targets of the third SDG for good health to achieve universal health coverage and access to quality essential health-care services are met.
Modernising education is the key cornerstone of France-Egypt relations. As such, development financing agreements worth EUR 12 million were signed for the re-foundation of the French University in Egypt, as well as a grant worth EUR 2 million as part of Egypt’s strategy to develop and modernise the education system and create an economy that is based on innovation, competence and essential modern skills.
The international cooperation minister also signed an agreement worth EUR 95 million for the modernisation of the Tanta/ Mansoura/ Damietta railway line, an agreement worth EUR 250 million for the development of the Abu Qir railway line, and an agreement worth EUR 52 million for the development of the sewage treatment plant in Helwan. The comprehensive package also included the signing of an agreement worth EUR 1.5 million to combat climate change in Egypt, as well as a partnership agreement worth EUR 1.5 million to implement the technical cooperation project that supports teaching of the French language in Egyptian public schools.
This is in addition to the signing of a cooperation agreement between Egypt and France for university hospitals to train healthcare workers, strengthen institutional capacities of public hospitals, and promote equality in the health sector.
“The development financing agreements signed with the French Development Agency are fruits of the important visit paid by President Abdel Fattah El-Sisi to France to discuss bilateral cooperation in all fields, for these international agreements directly contribute to supporting the national goal for sustainable development,” Minister of International Cooperation, Rania El-Mashat, stated.
Egypt’s Ministry of International Cooperation is working to apply the principles of economic diplomacy to strengthen the ‘Global Partnerships for Effective Development’. These principles include regularly organising multi-stakeholder platforms to ensure that all projects between development partners are streamlined and effectively coordinated; adopting a consistent Global Partnerships Narrative People & Projects & Purpose (P&P&P) to showcase Egypt’s development success stories; and mapping ODA financing to SDGs for all projects.
The total cooperation portfolio between Egypt and France is worth EUR 7.5 billion, covering several sectors transport and electricity, housing, sanitation, health, agriculture, small and medium enterprises (SMEs), environment, basic and technical education sectors, according to the ministry.
