Minister of international cooperation, Sahar Nasr signed Friday a cooperation agreement with German minister of economic cooperation and development, Gerd Muller, during a meeting in Berlin. This came during the second day of minister of commerce, Tarek Kabeel and Nasr's visit to Berlin, where they met members of the Egyptian-German Parliamentary Group. The two ministers also visited the factory of Siemens and KFW bank, Al Bawaba News reported. Nasr explained that the agreement is for the period from 2016 until 2018, and worth 153 million euros, whereas 100 million euros in the shape of soft loans and 53 million euros as a grant. She pointed out that the loan interest rate reaches 2%, to be paid on a period of 30 years, which is a 50% increase from the previous cooperation agreement. The minister stressed that the agreement is for renewable energy, education, climate change, youth, women and housing projects, in addition to financing small and medium-sized enterprises.
