Egypt signs 4 loan agreements with AFD worth a combined EUR 59.6 mn

Egypt signed four loan agreements with the French Development Agency (AFD) on Thursday worth a combined EUR 59.6 mn, according to an Investment Ministry statement. Under the agreements, the AFD will provide EUR 50 mn to financing SMEs run by women, EUR 8 mn to the development of the Alexandria tramway, EUR 1.5 mn to support the energy sector, and EUR 130k to improving access to healthcare in Delta and Canal cities. The AFD has already committed EUR 300 mn and EUR 100 mn to the Cairo Metro and Alex tramway projects, respectively, and is expected to sign two other funding agreements with the Transport Ministry, on each in May and September, for both projects.