Arab Finance: Egyptian ministries and agencies have signed eight cooperation agreements and memoranda of understanding (MoUs) on June 24th with the French Development Agency (AFD), the European Union (EU), and several French companies, covering healthcare, education, technical training, green industry, and local development projects, the Egyptian Ministry of Foreign Affairs, International Cooperation, and Egyptians Abroad stated.
Among the agreements signed were two financing agreements worth a combined €300 million to support Egypt’s Universal Health Insurance System (UHIA) under the Ministry of Health and Population. The agreements aim to strengthen the sustainability of the healthcare system and expand services available to citizens.
The parties also signed an MoU to support a primary healthcare project aimed at improving the quality of basic healthcare services and enhancing the efficiency of health units across various governorates.
In the education sector, a grant agreement was signed with the Ministry of Education and Technical Education to support the teaching of French as a second foreign language in Egyptian public schools.
The agreements further included two letters of intent (LoT) to establish applied technology schools in cooperation with the Ministry of Transport and the Ministry of Education and Technical Education. One school will be established at the Wardan Institute, while the second will be developed in partnership with the French state-owned public transportation company Regie Autonome des Transports Parisiens (RATP).
These schools are intended to support technical education and help prepare skilled workers for labor market needs.
In the environmental sector, a €45 million credit facility agreement was signed with the Egyptian Environmental Affairs Agency (EEAA) to support a sustainable green industry project aimed at promoting the transition to a green economy and advancing environmental sustainability.
A grant agreement was also signed to support a project focused on improving access to services in targeted areas and expanding economic opportunities. The project will be implemented in cooperation with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA).
