Ahmed Kamel – Egypt Daily News
Egypt and France have officially renewed their financial and technical cooperation agreement, with a commitment to mobilize €4 billion in funding for priority development projects through 2030. The announcement came during a joint press conference held at Egypt’s Ministry of Planning and Economic Development headquarters in the New Administrative Capital, attended by Egyptian Minister Dr. Rania Al-Mashat and French Ambassador to Cairo, Éric Chevallier.
This renewed cooperation stems from the joint declaration signed during the bilateral summit between President Abdel Fattah El-Sisi and French President Emmanuel Macron, held in Cairo from April 6 to 8, 2025. The strategic agreement focuses on three core development areas: human development, with a particular emphasis on higher education; sustainable infrastructure; and green project financing—especially under Egypt’s national “Nouveau” platform, aimed at tackling climate change and aligning with the country’s broader economic transformation agenda.
A Vision Aligned with Egypt’s Development Narrative
Minister Al-Mashat explained that since the signing of the joint declaration in April, Egyptian and French officials have engaged in ongoing consultations to determine the specific projects to be funded under the agreement. These projects are expected to align with Egypt’s structural and economic reform priorities and will contribute to boosting productivity and enhancing access to export markets.
She emphasized that the Egypt-France partnership is not limited to development cooperation, but extends into trade, investment, cultural exchange, and regional initiatives. “Our relationship is strategic, comprehensive, and multidimensional supported at the highest levels by both President Sisi and President Macron,” she stated.
Al-Mashat also highlighted the importance of concessional financing as a tool to support public investment in a fiscally sustainable manner. “Concessional finance remains one of the most affordable and flexible funding mechanisms in terms of grace periods and repayment terms,” she noted. She added that Egypt is actively working to maximize its use of such funding through effective governance of public investments, particularly given that the national investment ceiling reached EGP 1.16 trillion in the previous fiscal year.
She further underscored that economic diplomacy has become a central pillar of Egypt’s development financing strategy. “Our integrated national strategy for development financing, launched last year, is designed to mobilize both domestic and international resources for priority sectors.”
Strengthening a Longstanding Partnership
French Ambassador Éric Chevallier echoed these sentiments, stating that the renewed financial cooperation agreement “strengthens the commitments made by the two presidents during the April summit and reflects the depth of the bilateral relationship and our shared goals.” He described the Egypt-France partnership as a model for strategic cooperation that addresses both national priorities and broader regional challenges.
The renewed cooperation builds on a series of agreements signed during President Macron’s April visit to Cairo, including memoranda of understanding in healthcare, oncology treatment, and higher education. A major highlight of the visit was the launch of 100 new Francophone schools across Egypt, a significant step in cultural and educational collaboration.
Dr. Al-Mashat also signed a memorandum of understanding during that visit outlining the framework for technical and financial cooperation, as well as a joint declaration covering four key social investment projects.
In addition, the two governments signed nine agreements for concessional loans and grants worth a total of €262.3 million to support projects in critical infrastructure sectors, including water, sanitation, electricity, and rail transport. Among these are:
- East Alexandria Wastewater Treatment Plant
- Alexandria Regional Control Center Project
- Expansion of the Gabal El-Asfar Wastewater Treatment Plant
These projects not only address pressing infrastructure needs but also support Egypt’s green transformation agenda, in line with its commitment to environmental sustainability and climate resilience.
Looking Ahead
The renewed €4 billion cooperation package marks a significant milestone in Egyptian-French relations, reinforcing their shared vision for inclusive and sustainable development. It also sends a clear signal of confidence from France in Egypt’s economic reform trajectory and its capacity to implement large-scale development initiatives.
As the cooperation framework unfolds in the coming years, both governments are expected to work closely to ensure that funded projects are implemented efficiently, deliver measurable development outcomes, and contribute to Egypt’s long-term goal of building a more productive, competitive, and climate-resilient economy.
