Egypt Independent

Egypt, Germany sign 6 agreements worth 300 million euros



Egypt and Germany on November 19 signed six agreements worth 300 million euros, on the sidelines of the Africa summit held in Berlin.

Egypt’s Minister of Investment and International Cooperation Sahar Nasr and Germany’s Federal Minister of Economic Cooperation and Development Gerd Muller signed two financial and technical cooperation agreements for 2017 at a total value of 44.9 million euros to finance projects in energy efficiency, rehabilitating vocational schools and education, promoting employment opportunities and small-and-medium enterprises, and developing urban infrastructure.

They signed two other financial and technical cooperation agreements for 2018, totaling 101 million euros, for projects related to energy efficiency, small-and-medium enterprises, promoting innovation in the private sector, developing projects on drinking water and sanitation management, solid waste management, social development and employment opportunities promotion.

They also signed a protocol for Egyptian-German joint cooperation for 2019 worth 151.5 million euros financing several projects in the fields of electricity, renewable energy, vocational education, employment, promoting innovation in the private sector and encouraging small-and-medium enterprises.

Nasr and the regional commissioner for the Middle East and Maghreb countries at the German Foreign Office Christine Bock also signed a two-million-euro grant to the Ministry of Migration and Egyptian Expatriates Affairs.