Egypt signed a letter of intent with Swedish development finance institution Swedfund to deepen cooperation in the energy and sustainable transport sectors, the Ministry of Planning said on Wednesday. The agreement was signed by Egyptian Planning Minister Rania Al-Mashat and Swedfund CEO Maria Håkansson during the second Egypt-Sweden Business Forum in Cairo. The signing was attended by Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib and Sweden's Minister for International Development Cooperation and Foreign Trade Johan Forssell. Under the agreement, Swedfund will provide development grants to support feasibility studies aimed at enhancing the stability and efficiency of Egypt's power grid. The Swedish agency will also finance advisory services for the country's Bus Rapid Transit (BRT) project. Minister Al-Mashat said the deal reflects ongoing cooperation between the two countries and a shared commitment to advancing sustainable infrastructure. She noted that the partnership underscores mutual trust and aligns with both countries' priorities in urban mobility and clean energy. "The agreement builds on a history of successful collaboration with the Swedish side, particularly in technical consulting," Minister Al-Mashat added in a statement. Attribution: Amwal Al Ghad English
