Al-Sisi approves new loan for Egypt

Egyptian President Abdel Fattah Al-Sisi issued a republican decree approving a loan agreement between Egypt and France in the amount of 776 million 900 thousand euros.

According to the decision, the loan will help finance the delivery of 55 trains and the renovation of warehouses on the first line of the Cairo Metro.

It is noteworthy that a financial protocol was signed between the Government of the Arab Republic of Egypt and the Government of France for a project for the supply of 55 trains and the renovation of warehouse equipment for the first metro line with concessional development funding of 776.9 million euros during the visit of the Minister of Economy, Finance and Reconstruction of France to Egypt.

At its meeting last June, the Egyptian Parliament approved Presidential Decree No. 194 of 2022 approving the Financing for Development Agreement between Egypt, represented by the Ministry of International Cooperation, and the Government of France.

Source: Egyptian media.