Al-Mashat:
Renewing the Joint Declaration for Technical and Financial Cooperation Enhances Joint Efforts to Achieve Economic Development and Implement Priority Projects in Egypt
The French side has contributed to the implementation of various projects in the sectors of renewable energy, green transition, water treatment, social protection, and health.
H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with H.E. Mr. Rémy Rioux, CEO of the French Development Agency (AFD). The two sides discussed the future of Egyptian-French relations within the framework of the strategic partnership between the two countries and the activation of joint declarations and agreements signed during the state visit of H.E. French President Emmanuel Macron to Egypt.
H.E. Dr. Rania Al-Mashat affirmed that the developments witnessed in Egyptian-French relations, whether in their economic, cultural, scientific, or other areas of common interest, reflect a great awareness by the leadership of both countries of the magnitude of the surrounding challenges at the present time and the necessity of consolidating relations to reflect the mutual keenness to advance development efforts and enhance the stability of the Egyptian economy.
The Minister of Planning, Economic Development and International Cooperation emphasized that elevating the level of Egyptian-French relations to a strategic partnership will contribute to expanding the scope of joint cooperation to include more priority areas, particularly in light of the Egyptian state's keenness to strengthen its regional position in vital sectors, foremost of which are renewable energy, transportation, and logistics.
H.E. Dr. Al-Mashat added that the partnership portfolio with the French side is characterized by great diversity and includes multiple areas that reflect on the efforts to achieve economic development, including electricity and renewable energy, comprehensive health insurance, social protection, water and sanitation treatment, climate action, and the transition to a green economy.
H.E. Minister Al-Mashat explained that, under the joint declaration to renew technical and financial cooperation for the implementation of priority projects in the Arab Republic of Egypt, which was signed in the presence of H.E. President Abdel Fattah El-Sisi and his French counterpart.
The coordination will take place with the French side during the coming period to agree on a number of priority projects to enhance the strategic cooperation between the two countries in the fields of economic and regional development, trade, and facilitating the exchange of technology and expertise between the two countries.
For his part, Mr. Rémy Rioux, CEO of the French Development Agency, expressed appreciation for the great welcome extended by the Egyptian state to the French President and the accompanying delegation, which reflects the depth and strength of the historical relations between the two countries. He stressed the French side's keenness to support development efforts in Egypt.
It is worth noting that the Arab Republic of Egypt and the French Republic share strong relations at various levels. Since the opening of the AFD's office in Egypt in 2007, the French side has contributed to increasing development financing efforts, bringing the total development financing portfolio to about 4 billion euros for the public and private sectors, in addition to development grants worth 12.6 million euros. The AFD also managed grants from the European Union worth 150 million euros.
Among the most important sectors that have been focused on are the transportation sector, the electricity sector, the industrial sector, the civil aviation sector, the health sector, the agriculture and irrigation sector, the housing and urban development sector, and the education sector.
Through cooperation with the AFD, France supported the country platform for the "NWFE" program in the energy and transportation pillars; where the agency signed a partnership agreement for the energy pillar worth 100 million euros, of which 50 million euros were allocated to the Alexandria Regional Control Center. A partnership agreement for the transportation pillar was also signed between the AFD, the European Investment Bank, and the European Bank for Reconstruction and Development.