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AFD’s current portfolio with Egypt includes 17 projects - Daily News Egypt

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AFD’s current portfolio with Egypt includes 17 projects

CCFE’s president met Minister of Youth and Sports to boost cooperation

The ‘Agence française de développement’ (AFD) is implementing 17 projects in cooperation with the Egyptian government, an informed source told Daily News Egypt on condition of anonymity.

The source explained that four projects of the whole portfolio are with the Ministry of Electricity and Renewable Energy with funds worth of €318.8bn.

The electricity projects are; establishing electricity park in Kom Ombo, Aswan with €40m in loans and €800,000 in grants, the second project is establishing a regional control centre in Delta through loan worth of €50m, the source clarified.

The third project is New Gulf of Suez Wind Farm with €50m in loans, while the fourth project is budget support of the energy sector with total funds of €178m divided into €175m loan and €3m as a grant, the source added.

“Another four projects are being implemented with the Ministry of Transportation with French funds worth of €401.2m. The first project is the third phase of the third line of the Cairo Metro financed by €300m,” the source mentioned.

AFD is also financing Alexandria’s tramway project with €100m as loan in addition to €800,000 from the European Union but managed by the AFD, the source noted.

AFD’s Fund for Technical Expertise and Exchanges (FEXTE) is assisting the Ministry of Transportation with €500,000 for technical cooperation, in addition to €700,000 to support Egypt’s railways’ safety, the source added.

Only one project with the Ministry of Petroleum and Mineral Resources is financed by the AFD. This project aims to expand Egypt’s natural gas supply network into the households with a loan of €70m and a European grant worth of €68m, the source said.

Similarly, only one project with the Ministry of Agriculture and Land Reclamation is financed by the French agency, with €30m in loan and €22m in grant, the source noted, adding that AFD has a single project with the Ministry of Environment with €50m.

“AFD is financing a couple of projects with Ministry of Housing, Utilities and Urban Communities with €107m. The first project is for improving the water services in four governorates in Upper Egypt with a loan worth €57m, while the second is the treatment of the sludge of Alexandria Sewage Treatment Plant with €50m,” the source mentioned.

Moreover, the French agency is implementing a couple of projects with the Ministry of Health and Population with €93m, the source said, adding that the AFD is financing another couple of projects with the Micro, Small and Medium Enterprises Development Agency (MSMEDA).

On a different note, the President of the French Chamber of Commerce and Industry in Egypt (CCFE), Mahmoud Al-Qaisi met with Minister of Youth and Sports, Ashraf Sobhy to discuss possibilities of joint cooperation in training of Egyptian youth, according to a press statement of the CCFE on Tuesday.

Al-Qaisi presented the activities of the chamber and the events that aim to promote the economic and trade relations with Egypt in line of the political support for boosting the cooperation, the statement noted.

The Ministry of Youth and Sports will establish employment fairs, Sobhy mentioned, asserting that helping youth to find job opportunities is essential to achieve Egypt’s Sustainable Development Goals 2030 (SDGs)

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