Egypt and France Establish Key Agreements for Economic Development and Humanitarian Efforts
Collaboration between Egypt and France focuses on industrial development, healthcare, and infrastructure improvements. The initiatives aim to boost trade and foreign investment, with a target of $3.5 billion trade with France by 2025.
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Egypt and France have secured €262.3 million in loans and grants through the French Development Agency (AFD) to enhance bilateral trade, targeting a 25% increase to $3.5 billion by 2025. Key projects include an industrial hub at Borg El Arab Dry Port and green ammonia production in the Red Sea, involving EDF Renewable Energy and ZeroWest.
Infrastructure advancements feature a railway line construction and healthcare improvements, including an oncology center in Cairo and diabetes treatment protocols with Sanofi. The broader economic goal is $60 billion in foreign direct investment and $145 billion in exports by 2030. Concurrently, a tripartite summit with France and Jordan addressed humanitarian issues in Gaza, underscoring the significance of international cooperation amid regional tensions.
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