Minister of Planning, Economic Development, and International Cooperation and the French Ambassador Announce the Renewal of the Technical and Financial Cooperation Agreement between Egypt and France Worth €4 Billion until 2030

At a Joint Press Conference

 

Minister of Planning, Economic Development, and International Cooperation and the French Ambassador Announce the Renewal of the Technical and Financial Cooperation Agreement between Egypt and France Worth €4 Billion until 2030

 

 

The agreement focuses on human development, green projects, and sustainable infrastructure, consistent with the economic model of Egypt’s Narrative for Economic Development.

 

Economic diplomacy is a key pillar for driving financing for development and mobilizing local and foreign resources for priority sectors.

 

 

Dr. Rania Al-Mashat:The technical and financial cooperation agreement is one of the axes of the strategic partnership between Egypt and France, and we look forward to more French investments in Egypt.

 

French Ambassador in Cairo: The renewal of financial cooperation embodies the depth of the relationship between the two countries and our shared goals.

 

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and H.E. Mr. Éric Chevallier, French Ambassador to Cairo, announced the renewal of technical and financial cooperation between Egypt and France to implement priority projects in Egypt, valued at €4 billion until 2030. This was during a joint press conference at the Ministry's headquarters in the New Administrative Capital.

This is in execution of the Joint Declaration signed during the summit held between H.E. President Abdel Fattah El-Sisi and his French counterpart, H.E. President Emmanuel Macron, during the French President's visit to Egypt from April 6 to 8, 2025.

 

The renewal of the technical and financial cooperation agreement between the two countries reaffirms the continuous development of Egyptian-French relations, which have been elevated to the level of a strategic partnership, and the commitment to continuous work to advance shared interests and achieve economic development in light of the priorities of both countries.

 

The agreement encompasses three main areas: human development, particularly higher education; sustainable infrastructure; and addressing climate change through financing green projects, particularly within the framework of the country platform for the 'NWFE' program. This is consistent with the economic model within “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”, aimed at transitioning to sectors with higher productivity and greater access to export markets.

 

During the press conference, the Minister of Planning, Economic Development, and International Cooperation pointed out that the Egyptian and French counterparts had engaged in continuous discussions since the signing of the Joint Declaration during President Macron's visit to Egypt, in order to identify the priority projects to be funded through the technical and financial cooperation agreement, in line with Egypt's economic and structural reform priorities.

 

She stressed that Egyptian-French relations are comprehensive, strategic, and diverse, greatly supported by H.E. President Abdel Fattah El-Sisi and his French counterpart, President Emmanuel Macron. Furthermore, these relations are not limited to development cooperation but are broadly diversified in the fields of investment, trade exchange, and cultural relations, also opening up a wider scope for regional cooperation and the expansion of joint projects.

 

Minister Al-Mashat highlighted that financing for economic development is a common denominator among various development strategies and plans, given that concessional financing is one of the least costly financing options with the longest grace and repayment periods. Therefore, Egypt is working to benefit from concessional financing and utilize its distinguished relations with international partners, which is also consistent with the governance of public investments and the investment spending ceiling of EGP 1.16 trillion in the last fiscal year.

 

She confirmed that economic diplomacy is a key pillar for driving financing for development and mobilizing local and foreign resources for priority sectors.

 

The Minister noted that through the Integrated National Financing Strategy for Development, launched by the Ministry last year, they are working to strengthen economic diplomacy to drive financing for development, ensuring coherence and linkage between national and sectoral development plans and strategies, and maximizing the benefit from various sources of funding, whether from the public treasury or concessional financing flows, to serve the various state plans, strategies, and programs.

 

In this context, Ambassador Éric Chevallier affirmed: “The renewal of our financial cooperation reinforces the agreement signed between the two Presidents last April and reflects the depth of our relations and our shared objectives."

 

It is worth noting that during the State visit by the French President to Cairo last April, a number of agreements and MoUs were signed between the two countries in the fields of health, oncology treatment, higher education, and the launch of 100 Francophone schools.

 

Dr. Rania Al-Mashat also signed the Memorandum of Understanding for the technical and financial cooperation agreement and a Joint Declaration on 4 solidarity investment projects.

 

Furthermore, the two governments signed nine concessional financing and grant agreements to implement a number of priority projects in the water treatment, sanitation, electricity, and railways sectors, valued at €262.3 million, including the new Alexandria East Wastewater Treatment Plant Project, the Alexandria Regional Control Center Project, and the Gabal El-Asfar Wastewater Treatment Plant Project.