Egypt secures France and EU funds to build infrastructure

Egypt has signed agreements with France and the European Union (EU) worth €262 million ($290 million) to support its infrastructure projects.

The agreements were signed this week during the visit of French President Emmanuel Macron to Egypt, local media reported.

Cairo signed €132 million financing and grant agreements with the EU and the French Development Agency (AFD) for two large-scale wastewater treatment projects, according to Egypt’s state information service.

The funding will support the construction of a new wastewater treatment plant in East Alexandria and the third phase of the Gabal El-Asfar wastewater treatment plant.

The East Alexandria project will treat 300,000 cubic metres of wastewater per day. It is backed by €68 million in financing and a €2 million grant from AFD.

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The Gabal El-Asfar project will receive €50 million in financing, a €1.5 million grant from AFD and a €10 million grant from the EU, the report said.

In addition, Egypt’s minister of planning, economic development and international cooperation, Rania Al-Mashat, signed two joint declarations with France to renew technical and financial cooperation and implement four new development projects.