Egypt's SCZONE eyes deeper investment, port digitalisation ties with Singapore    Egypt's gold prices slip slightly on July 28th    Egypt's Housing Min. reviews HDP marketing plan    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Iran launches mass deportation of Afghans amid spying allegations    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt, Germany to expand partnership with new €100m debt swap
Published in Daily News Egypt on 21 - 07 - 2025

Egypt and Germany are expanding their economic partnership with a focus on innovative financing and private sector investment, with a new €100m ($109m) tranche under a debt-for-development swap programme to be activated by mid-2026, Egypt's Planning and International Cooperation Minister said on Sunday.
Speaking at a joint press conference, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said the visit of German Federal Minister for Economic Cooperation and Development, Reem Alabali-Radovan, sent a strong message of partnership at a time of significant global and regional sensitivity.
Al-Mashat said the two countries enjoy a strategic partnership that has evolved into a comprehensive collaboration, with Germany being one of Egypt's largest European partners in development cooperation, trade, and investment.
Around 1,600 German companies operate in Egypt with total investments exceeding €6 billion in sectors including the green transition and manufacturing. The trade volume between the two countries is approximately €6.8 billion.
Al-Mashat highlighted several key areas of cooperation, including:
DEBT-FOR-DEVELOPMENT SWAP: The total value of the Egypt-Germany debt swap programme is €340m, with the new €100m tranche to be activated in December 2025 and June 2026. The programme has funded projects in technical education, health, climate action, and water and sanitation.
GREEN TRANSITION: Germany is a key supporter of the energy pillar of Egypt's "NWFE" country platform, having allocated €258m in concessional financing, grants, and debt swaps to support the electricity network and the integration of renewable energy projects. Additionally, the German-financed PtX Development Fund provided €30m to Norway's Scatec for its green hydrogen project in the Suez Canal Economic Zone.
FINANCIAL COOPERATION: A financial cooperation agreement signed in May 2025 includes a €118m funding package for technical education and the integration of renewable energy into the grid. Al-Mashat said a new round of intergovernmental negotiations will be held by the end of this year to agree on priorities for the coming period.
The minister also noted that Egypt values Germany's efforts within the European Union to finalise a €5bn macroeconomic support mechanism and budget support for Egypt.
Al-Mashat said her discussions with her German counterpart included increasing development financing for the private sector through German financial institutions and establishing a new platform, similar to NWFE, to mobilise international partnerships for industrial development.
She also highlighted the effective partnership with the German Agency for International Cooperation (GIZ) in developing technical education to support national employment priorities.
"Egypt's economy is showing notable improvement in growth indicators, and we are working on enhancing macroeconomic stability to attract more foreign investment," Al-Mashat said, adding that these efforts are part of a national plan to structurally transform the economy towards export-oriented sectors.


Clic here to read the story from its source.