The deals were signed by International Cooperation Minister Rania Al-Mashat and French Finance Minister Bruno Le Maire.
The first tranche of the financing agreement, worth a total of EUR 800 million, financed by a loan from the Treasury, will be allocated to support manufacturing operation company Alstom to supply 55 underground trains for Cairo Metro’s Line 1.
France is also willing to support EUR 2 billion worth of bank loans for contracts with French companies working on Cairo’s metro, Le Maire said.
This is in addition to investing EUR 150 million to help reform Egypt’s health system and EUR 12 million to restore a French university in Egypt.
In May, Egypt signed an agreement with France to purchase 30 French Rafale fighter jets from the French Dassault Aviation company.
