Egypt-Japan ongoing economic cooperation portfolio hits $3bln

Egypt - Minister of International Cooperation Rania Al Mashat has signed an agreement with the Japanese Embassy and the Japan International Cooperation Agency (JICA) to raise the value of the grant Japan provides for the establishment of an affiliated annex building to Abu El-Reesh Paediatric Hospital, according to a statement issued by the Egyptian Cabinet.

Upon the agreement, the grant’s value will increase to JPY 2.108 billion ($19 million), Al Mashat said, noting that the annex building would feature external clinics affiliated to Abu El-Reesh Hospital.

The ongoing economic collaboration portfolio between Egypt and Japan has recorded around $3 billion to carry out 14 projects in various sectors, including electricity, transport, navigation, education, and irrigation, the minister highlighted.

The Japanese government has supported the Egyptian healthcare sector with grants valued at $28 million since the emergence of Covid-19 pandemic, she added.

These grants are represented in a sum of $9 million to bolster the Egyptian government’s efforts in combating the pandemic and buying the necessary medical equipment, in addition to, an amount of $19 million to establish the annex building of Abu El-Reesh Hospital, she said.

In February, Egypt had signed a development financing agreement with Japan to fund the development policies of the energy sector and the budget support, Al Mashat pointed out.