"Al-Mashat": We are working towards achieving integration between local resources and international partnerships to support the country's economic development priorities.
H.E. Dr. Rania A. Al-Mashat, Minister of Planning and Economic Development and International Cooperation, signed a development financing agreement worth €1.4 million with Mr. Eduardo Soriano, the Economic and Commercial Counselor of Spain in Egypt. It will finance the "Preliminary Feasibility Study for the Extension of the First Line of Cairo Metro (New Marg – Shibin El-Qanater)." This agreement falls under the sustainable transport projects within the country platform of the "NWFE+" program. The signing ceremony was attended by Mr. Álvaro Iránzo Gutiérrez, Ambassador of the Kingdom of Spain to Egypt, Eng. Wagdy Radwan, Deputy Minister of Transport, Tarek Hamed Goueili, Chairman of the Board of Directors of the National Authority for Tunnels, Eng. Wael Naeem, Assistant Minister of Transport for Investment and External Financing, and representatives from Triangle Co., which represents Typsa in Egypt.
The Ministry of Transport and the National Authority for Tunnels will benefit from the agreement, which will contribute to preparing the feasibility studies for the project to extend the first line of Cairo Metro, conducted by the Spanish company Typsa. Typsa will sign an implementation contract with the National Authority for Tunnels, and the project’s implementation period is expected to last for 8 months.
H.E. Dr. Rania A. Al-Mashat, Minister of Planning and Economic Development and International Cooperation, pointed out that the agreement with the Spanish side is part of the Ministry’s efforts to integrate local resources with international partnerships to support development efforts in vital sectors. She highlighted that metro projects represent one of the fruitful partnerships with multi-party and bilateral development partners, as they have provided an environmentally friendly transportation solution that carries millions of citizens daily across Greater Cairo.
H.E. Dr. Al-Mashat added that expanding environmentally friendly and sustainable projects is a fundamental part of achieving economic development. Therefore, the Ministry of Planning and Economic Development and International Cooperation, through the transport pillar of the "NWFE+" program, is working to strengthen international partnerships to implement various sustainable transport projects, including the extension of the first Cairo Metro line to Shibin El-Qanater, the development of the Abu Qir Alexandria railway line into an electric metro, and other projects that enhance the state’s efforts to connect governorates and strengthen sustainable infrastructure.
The Minister of Planning and Economic Development and International Cooperation commended the shared Egyptian-Spanish relations, which the two countries are working to further develop to encompass additional priority areas, particularly in the field of green economy transition and supporting sustainable development efforts.
H.E. Dr. Al-Mashat pointed out that Spain will host the 4th International Conference on Financing for Development, scheduled for mid this year, which is expected to contribute to supporting global efforts to accelerate development and reform the international financial structure.
It is worth noting that the Minister of Planning and Economic Development and International Cooperation met with the Spanish Ambassador in Cairo at the end of last year, where they discussed future partnerships. They also signed two grants worth €800,000, provided by the Spanish Agency for International Cooperation, for two projects: “Treatment and Reuse of Wastewater in Egyptian Sugar Factories” and “Creating Job Opportunities for Youth for Employment and Business Start-ups - Phase Two.”
International cooperation and development finance relations between Egypt and Spain date back to the 1990s. The first cooperation protocol was signed on 10th February 1998, where Spain provided Egypt with €255 million in development funding. A second MoU was signed in 2008 with €250 million. The cooperation portfolio between Egypt and Spain spans multiple sectors, including transport, housing, wastewater, electricity, renewable energy, a credit line for small and medium-sized enterprises, and heritage preservation. Additionally, financing have been provided by the Spanish Agency for International Cooperation and Development in sectors such as health, women, tourism, governance, and sustainable development.