France to invest 3.8bn euros in Egypt projects ...Egypt

French Finance Minister Bruno Le Maire on Sunday signed agreements with Egypt to invest 3.8 billion euros in the most populous Arab country’s public transport and renewable energy sectors. France will finance Egyptian projects with French companies to the tune of 1.8 billion euros ($2.18 billion). The first tranche will be for transport giant Alstom to supply 55 underground trains for Cairo Metro’s Line 1, for a total of 800 million euros financed by a loan from the Treasury. The line used by over a million commuters daily has dilapidated carriages that are over three decades old. Nine other projects are included in the intergovernmental agreement. They will be financed by the French Develop

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