AFD provides Egypt with credit facilities worth €228M

CAIRO – 4 May 2017: The French Agency for Development (AFD) will provide Egypt with a credit facility worth € 175 million, along with two grants of €3 million to support the energy sector in the state budget, according to a Cabinet statement on Wednesday.

According to the agreement, the AFD will contribute in upgrading the energy sector by supporting governance in the sectors of energy and natural gas in order to improve energy supplies.

The Cabinet also approved another agreement with the AFD worth €50 million to finance the “ Hamaa” sewage plant in Alexandria.

Over the past 10 years, AFD’s financing contributions to Egypt stood at €1.6 billion to support the sectors of infrastructure and climate change as well as social protection and comprehensive health insurance programs.