On 01/01/1900 , Denmark has started to cooperate with Egypt.
Economic and financial cooperation between Egypt and Denmark dates back to 1969, being in the form of loans, while two decades afterwards, i.e. in 1989, economic cooperation took the form of grants. The volume of aid received by Egypt until now is approximately DKK 2,846,975 million, equivalent to approximately USD 506,982 million as follows:
• DKK 805 million as soft loans, the last of which was provided in 1988.
• DKK 2,041,975 million in the form of grants.
This aid was allocated to financing several projects in various areas of development in line with Egyptian economic development programs, on top of which are water and wastewater projects in Edfu and Obour City, the pilot project for the wind energy sector technology development, the construction of a wind plant in Zafarana, Gulf of Suez, the establishment of a regional control center to eliminate electricity errors and rationalize losses, projects for building silos and mills (Qena, Fayoum, Beni Suef and Minya governorates) in addition to financing environmental sector programs and their components.
• Economic and Technical Cooperation Agreement signed on 25/3/1981.
• Investments Promotion and Protection Agreement signed on 24/8/1999 and entered into force on 12/20/1999.
• Double Taxation Prevention Agreement signed in 1989.
• Egyptian European Partnership Agreement signed on 25/6/2001 and entered into force on 1/6/2004.
• Mixed Credit Agreement signed on 12/27/1997 whereby Denmark provided mixed credit to both the public and private sectors for financing development projects.
• An agreement signed on 11/5/2005 amending the framework of the Mixed Credit Agreement of 12/27/1997 for the provision of restricted and unrestricted credit worth EUR 60 million.
Latest aspects of cooperation :
The Minister of Planning and International Cooperation (2012) discussed with the Danish Minister of Development Cooperation Mr. Christian Ferries Bash, during his visit to Cairo in September 2012, the economic, scientific and technical cooperation between both countries, where the parties discussed the possibility of swapping debt due on Egypt until 2016, which is estimated at USD 60 million. They also discussed the Danish government’s potential support of SME’s in Egypt and benefiting from the Danish experience in the field of food industries. Dr. El-Arabi stressed the importance of allocating the funds worth DKK 270 million pledged by the Danish government in 2011 for the Arab Spring countries for implementing development projects in Egypt, especially for job creation and mitigating unemployment.