France agrees to 1.8 bln euros in financing for Egypt ...Middle East

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France agrees to 1.8 bln euros in financing for Egypt
source : Devdiscourse ( Middle East ) () 68
France said on Sunday it would provide Egypt with some 1.8 billion euros ($2.2 billion) in financing for projects including the Cairo metro, power generation and water management, in what officials called a major boost to bilateral cooperation. The financing includes a concessional government loan of around 800 million euros for upgrades to Line 1 of Cairo's metro, which dates to the 1980s. Another 1 billion euros of financing from AFD, France's development agency, will cover a range of projects over the next five years.

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