Ahmed Kamel – Egypt Daily News
Egypt and Germany have finalized a new package of financing agreements, debt-swap arrangements, and grants totaling $341.26 million, approximately 16 billion Egyptian pounds following high-level negotiations held in Berlin.
The announcement was made by Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, who is currently on an official visit to the German capital. During her trip, she met with German Minister Reem Alabali-Radovan to advance bilateral cooperation, according to a statement issued Wednesday, 19 November.
The talks focused heavily on expanding the “Debt-for-Development and Climate Action Swap Programme,” which both countries view as a flagship model for climate-focused development finance. The package includes a $198.5 million debt-swap arrangement to connect renewable-energy stations to Egypt’s NWFE (Nexus of Water, Food and Energy) initiative, as well as measures aimed at strengthening the private sector’s role in development.
In addition, both sides signed a new Egyptian-German negotiation protocol worth $142.37 million to support a pipeline of future projects in priority sectors.
A further component of the package is a $57.88 million converted-debt agreement dedicated to linking the 1,100-MW Aqua Power 1 and 2 renewable-energy plants to Egypt’s national electricity grid, a move expected to accelerate Egypt’s green transition and contribute to the country’s Nationally Determined Contributions (NDCs).
Al-Mashat emphasized that Egypt’s governance framework for development cooperation is what sets the joint programme apart, saying that it guides project selection and ensures debt-swap resources are directed toward high-impact priorities. The minister noted that the overall value of the Egyptian-German debt-swap programme has reached $393.6 million, representing about 18% of Egypt’s total debt to Germany.
