Egypt has secured EUR 4 bn in concessional financing and grants from France through 2030, Planning Minister Rania Al Mashat said yesterday during a joint press conference with French ambassador Eric Chevallier. The agreement — officially framed as a renewal of technical and financial cooperation agreement between the two countries — appears to be the first public acknowledgment of an earlier agreement stemming from President Emmanuel Macron’s April visit to Cairo.

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The French government will cover the lion’s share of the soft loans and grants, contributing a total of EUR 3.2 bn, while the French Development Agency (AFD) will provide EUR 800 mn.

Funds will be directed toward priority development sectors, including healthcare, education, and technical training, alongside green infrastructure and renewable energy projects under Egypt’s Nexus of Water, Food and Energy (NWFE) initiative, as well as private sector financing windows. The French ambassador stressed that France “does not impose any projects on Egypt,” but instead responds to government-defined priorities and development needs.

REMEMBER- During Macron’s April visit, Egypt and France elevated their partnership to a strategic framework with a focus on industrial localization, AI, cyber, and hydrogen. At the time, only EUR 260 mn worth of AFD-backed loans and grants were publicly announced.

France is already among Egypt’s largest foreign investors, with over EUR 7 bn currently deployed in the market, Al Mashat noted in separate remarks to Asharq Business (watch, runtime: 2:11). She added that beyond development financing, the partnership is also geared toward industrial localization — particularly in medical supplies and pharma — where France is expected to serve as a key strategic partner.

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