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Egypt signs 4 agreements with French Development Agency
Al Bawaba Published in Albawaba on 28 - 03 - 2017

Cairo - International Cooperation Minister Sahar Nasr has signed four agreements worth €259 million with the director of operations of the Agence Française de Dévelopement (AFD), Laurence Breton-Moyet to support energy, sanitation, and healthcare sectors.
The French ambassador to Egypt, André Parant, witnessed the signing.
The Egyptian minister said that the finances are divided into loans and grants, explaining that the first loan from the AFD is worth €175 million for supporting the budget of the energy sector.
Nasr added that the money of the loan will be received by the Ministry of Finance, yet the electricity sector would be supported by an additional €3 million as a grant that would be provided to the Ministry of Electricity and Renewable Energy to finance a technical programme.
The AFD will provide a financing package worth €31m for a project to support the quality of primary healthcare service in Egypt, which is the first of its kind by the AFD in the health and social sectors in Egypt.
However, Nasr signed an agreement that provides a €50m loan to support the expansion of the East Alexandria wastewater treatment plant.
The energy loan is a part of the international society's attempts to support Egypt's budget deficit.
This loan also represents the second support from France announced by the French minister of finance.
In addition, I will be financing the sector's strategy until 2035, which aims at developing the energy sector; gas and petroleum as well as rationalising energy consumption, diversifying the energy mix, and guaranteeing a sustainable energy service.

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