H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, signed a Letter of Intent with H.E. Ms. Maria Håkansson, CEO of the Swedish Development Finance Institution Swedfund, during the second Egyptian-Swedish Business Forum. 

The signing was attended by H.E. Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade, and H.E. Mr. Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade.

Under the Letter of Intent, Swedfund will provide development grants to prepare feasibility studies for improving the stability and efficiency of the electricity grid, in addition to funding consulting services for the Bus Rapid Transit (BRT) project.

Following the signing, H.E. Dr. Rania Al-Mashat expressed appreciation for seizing this opportunity during the joint business forum between the two countries to sign the Letter of Intent between the Ministry of Planning, Economic Development and International Cooperation and the Swedish side. She highlighted the successful and ongoing cooperation between the two parties regarding consulting services provided by the Swedish side, affirming the shared desire to advance cooperation.

H.E. Dr. Al-Mashat pointed out that this signing is an extension of the existing cooperation between the two countries and reflects the strength of the friendship and cooperation bond that unites them, which is based on mutual understanding and trust, in order to achieve mutual priorities, particularly in the energy and urban transport sectors.