Sisi approves simplified agreements with AFD for transport, climate sectors

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The agreement includes a loan from the AFD to Egypt

Staff Writer, Mubasher

December 30, 2022

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Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi issued a presidential decree approving a simplified agreement between Egypt's Ministry of International Cooperation and the French Development Agency (AFD) on renovating the railway of Tanta/Mansoura/Damietta.

The agreement includes a loan from the AFD to Egypt valued at a maximum of EUR 95 million and a grant not exceeding EUR 2 million signed on 28 March 2022, state-run news agency MENA reported on Thursday.

In the meantime, the Egyptian President issued a decree approving the EUR 1.50 million simplified grant agreement between Egypt and the AFD on Transforming Financial Systems for Climate (TFSC) project inked on 28 March 2022.

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