Egypt.. Approval of 3 development financing agreements worth $259 million from Canada, Japan and France

Egypt.. Approval of 3 development financing agreements worth $259 million from Canada, Japan and France
Egypt.. Approval of 3 development financing agreements worth $259 million from Canada, Japan and France

Reuters Foaad Shokry

The Egyptian House of Representatives in Cairo

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The Egyptian parliament approved 3 development financing agreements worth $259 million to support development efforts in the country, with the Japanese International Cooperation Agency (JICA), the French Agency for Development, and Canada.

The Egyptian Minister of International Cooperation, Rania Al-Mashat, said that “the House of Representatives approved the decision of the President of the Arab Republic of Egypt (Abdel-Fattah Al-Sisi) No. 324 of 2021 regarding the approval of exchanged letters between the Egyptian government and the government of Japan regarding the provision of the Japan International Cooperation Agency (JICA) to the Egyptian government with funding. Develop policies to develop the electricity sector worth 25 billion Japanese yen, equivalent to 238 million dollars, in order to implement the economic reform program.

She added that “the Council approved the decision of the President of the Arab Republic of Egypt No. (325) of 2021 regarding the approval of the simplified agreement between the Egyptian government and the French Development Agency, regarding the re-establishment of the French University in Egypt, by providing development funding worth 12 million euros, equivalent to 14.5 million dollars. In addition to a grant of two million euros, equivalent to 2.5 million dollars.

And she added, “The Council approved the decision of the President of the Arab Republic of Egypt No. 264 of 2021 regarding the approval of the sub-agreement between the Egyptian and Canadian governments regarding the implementation of a project to support women in the field of entrepreneurship in Egypt, with a value of 5 million Canadian dollars, equivalent to 4 million US dollars.”

She explained that “the development financing agreements that have been approved come within the framework of the role played by the Ministry of International Cooperation, to strengthen economic relations with multilateral and bilateral development partners, with the aim of supporting the country’s development vision 2030 that is consistent with the United Nations goals for sustainable development, whether through concessional development finances. or technical support in priority sectors.

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