{"id":566420,"date":"2021-06-17T13:48:18","date_gmt":"2021-06-17T13:48:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/"},"modified":"2021-06-17T13:48:18","modified_gmt":"2021-06-17T13:48:18","slug":"more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/","title":{"rendered":"More details on that EUR 1.7 bn French financing agreement signed earlier this week"},"content":{"rendered":"

<\/a> We have a more detailed breakdown on some of the <\/strong>funding agreements<\/a><\/strong> to come out of <\/strong>French finance minister Bruno Le Maire\u2019s visit to Cairo this week. <\/strong>The International Cooperation Ministry had signed EUR 1.7 bn in financing agreements with French agencies and entities this week, according to a cabinet statement<\/a>. These include an EUR 990 mn financing agreement with the French Development Agency (AFD) and a separate EUR 776 mn agreement with the French treasury that will both support key infrastructure projects throughout the country over the next four years.<\/p>\n

Transport projects are receiving the bulk of the funds: <\/strong>A total EUR 1.37 bn from the package is going to transport projects. EUR 776 mn will be allocated towards Tunnel Authority purchases of 55 new trains for Cairo Metro Line 1. The Mansoura-Damietta railway rehabilitation project will be seeing EUR 95 mn in funding under the new agreement. While upgrades to the Abu Qir Metro will be financed through a EUR 250 mn allotment. Construction of the Robaki-10th of Ramadan-Belbeis railway line, and the Aswan-Toshka-Wadi Halfa line is also expected to get another EUR 250 mn.<\/p>\n

Sewage treatment is also on the list of priorities: <\/strong>An EUR 52 mn agreement to construct a sewage treatment plant in Helwan, an EUR 68 mn allocation for a sewage treatment facility in East Alexandria and a EUR 50 mn allotment for a facility in Jabal Al Asfar.<\/p>\n

And so is energy: <\/strong>The Finance Ministry is also set to receive the second tranche of a facility to enable the upgrade of its energy subsidy policies worth EUR 75 mn. The Electricity Ministry is looking at a EUR 50 mn facility to construct a regional electrical control center in Alexandria.<\/p>\n

Separately, our universal health system will be seeing EUR 150 mn<\/strong> in support under a different agreement signed this week, while a project to construct a French university in Egypt will get EUR 12 mn in funding.<\/p>\n

But wait. What about the rest of the EUR 3.8 bn French Finance Minister Bruno Le Maire signed? <\/strong>Le Maire had signed a second EUR 2 bn agreement with Transport Minister Kamel El Wazir to provide credit facilities to fund the development of the Cairo Metro Line 6. <\/sup><\/p>\n

Check out our exclusive two-part interview with Bruno Le Maire <\/strong>about the new universal healthcare system, renewables, urban development and Egypt\u2019s post-pandemic role as a regional trade hub here<\/a><\/strong> and <\/strong>here<\/a><\/strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

We have a more detailed breakdown on some of the funding agreements to come out of French finance minister Bruno Le Maire\u2019s visit to Cairo this week. The International Cooperation Ministry had signed EUR 1.7 bn in financing agreements with French agencies and entities this week, according to a cabinet statement. These include an EUR […]<\/p>\n","protected":false},"author":1,"featured_media":566421,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10154],"tags":[3037,4009,101,633,491,2588,7111],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-development-finance","tag-afd","tag-bruno-le-maire","tag-development-finance","tag-enterprisepm","tag-france","tag-french-development-agency","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"e9679b79-63ce-46af-8e08-9efef306210d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/529.jpg","photo_position":"above","related_issue":[566411],"teaser":"","voice_url":""},"yoast_head":"\nMore details on that EUR 1.7 bn French financing agreement signed earlier this week - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More details on that EUR 1.7 bn French financing agreement signed earlier this week\" \/>\n<meta property=\"og:description\" content=\"We have a more detailed breakdown on some of the funding agreements to come out of French finance minister Bruno Le Maire\u2019s visit to Cairo this week. 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The agency signed seven agreements with International Cooperation Minister Rania Al Mashat in Paris yesterday in a meeting coinciding with President Abdel Fattah El Sisi\u2019s\u2026","rel":"","context":"In "DEVELOPMENT"","block_context":{"text":"DEVELOPMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/development\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/200.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593758,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/09\/afd-earmarks-eur-1-bn-for-egypt-development-projects-over-coming-4-years\/","url_meta":{"origin":566420,"position":1},"title":"AFD earmarks EUR 1 bn for Egypt development projects over coming 4 years","author":"enterpriseam admin","date":"9 October 2019","format":false,"excerpt":"The French Development Agency (AFD) has allocated EUR 1 bn to fund projects in Egypt over the coming four years, regional director Mathieu Vasseur said yesterday, according to the local press. Egypt has already received EUR 200 mn of the amount this year, Vasseur said, pointing out that the agency\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566324,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/how-france-wants-to-be-among-our-top-trading-partners\/","url_meta":{"origin":566420,"position":2},"title":"How France wants to be among our top trading partners","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"Egypt and France sign near EUR 4 bn in bilateral agreements and contracts: President Abdel Fattah El Sisi signed a little under EUR 4 bn worth of bilateral agreements this afternoon with French Finance Minister Bruno Le Maire. The agreements most notably cover transportation, but also in social security and\u2026","rel":"","context":"In "SPEED ROUND: DIPLOMACY & FOREIGN TRADE"","block_context":{"text":"SPEED ROUND: DIPLOMACY & FOREIGN TRADE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/466.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575256,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/diplomacy-foreign-trade-on-8-october-2020\/","url_meta":{"origin":566420,"position":3},"title":"Diplomacy + Foreign Trade on 8 October 2020","author":"enterpriseam admin","date":"7 October 2020","format":false,"excerpt":"Topping diplomatic coverage this morning: We now know how the EUR 1 bn loanagreement signed with the French Development Agency (AFD) last year will be spent, following a meeting between International Cooperation Minister Rania Al Mashat and French Ambassador to Cairo St\u00e9phane Romatet yesterday. The four-year agreement is set to\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546268,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/10\/were-getting-eur-138-mn-in-eu-development-grants\/","url_meta":{"origin":566420,"position":4},"title":"We\u2019re getting EUR 138 mn in EU development grants","author":"enterpriseam admin","date":"10 May 2022","format":false,"excerpt":"The EU and the International Cooperation Ministry yesterday signed development financing grants worth a total of EUR 138 mn that will fund healthcare projects, administrative reform, and environmental, rural, and community development initiatives, according to a cabinet statement. The funding comes within the framework of the EU-Egypt Partnership Priorities for\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555297,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/09\/alstom-lands-eur-876-mn-rolling-stock-contract-for-cairo-metro-line-1\/","url_meta":{"origin":566420,"position":5},"title":"Alstom lands EUR 876 mn rolling stock contract for Cairo Metro Line 1","author":"enterpriseam admin","date":"9 November 2021","format":false,"excerpt":"French train manufacturer Alstom has signed a EUR 876 mn contract with the National Authority for Tunnels to provide new rolling stock for Cairo Metro Line 1, the company announced in a statement. The agreement, signed during the TransMea transport conference yesterday, will see the French company provide 55 new\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566420"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566420\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566421"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566420"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566420"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}