In Egypt, Bruno Le Maire offers nearly 4 billion euros in financial commitments

French Minister of Economy and Finance Bruno Le Maire (left) and Egyptian Minister of Transport Kamel el-Wazir (right), in Cairo, Sunday, June 13, 2021. AFP - KHALED DESOUKI

Text by: RFI Follow

2 min

Bruno Le Maire was in Egypt this Sunday, June 13.

The French Minister of Economy and Finance came to sign a trade agreement concerning the Cairo metro as well as to initiate new infrastructure and development projects.

Benefits for Egypt, but also for France, estimated the minister. 

Publicity

Read more

With our correspondent in Cairo,

Édouard Dropsy

It is an envelope of 3.8 billion euros that Bruno Le Maire came to offer the Egyptians for projects ranging from infrastructure, water treatment and energy.

Loans at preferential rates, which would make Egypt the first debtor of France

"

We made the choice of Egypt with the President of the Republic,"

confirmed the Minister.

It is now more than a commercial partner, it is a true strategic partner.

And in the economic realm, this translates into the importance of what we have concluded today.

Four billion euros in financial commitments is obviously considerable. 

"

800 million euros for transport

On the transport side, 800 million euros are already guaranteed between the two countries, with the modernization of line 1 in Cairo.

If the minister praises the quality of the manufacturer Alstom for the Egyptians, he does not forget France.

“ 

This represents 400 jobs which are secured on the Creusot site and on the Valenciennes site.

So this is once again very good news for the French industry, which is driven by export contracts.

 "

These trade agreements come after President Sissi's visit to France last December and a few weeks after

the sale of 30 Rafales

to Egypt.

► To read also:

The sale of 30 Rafale to Egypt marks the support of France, for Amnesty International

Newsletter

Receive all international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

google-play-badge_FR

  • Egypt

  • Abdel Fattah al-Sissi

  • France

  • Emmanuel Macron

On the same subject

IMF approves second tranche of more than $ 1 billion in aid to Egypt

Egypt / Emmanuel Macron

Egypt: Emmanuel Macron on a strategic visit with four ministers

Caricatures: in Egypt, Jean-Yves Le Drian tries to appease the anger of Al-Azhar

Keywords: