Cairo: Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat and French Ambassador to Cairo ‚¬°ric Chevallier have announced the renewal of the technical and financial cooperation agreement between Egypt and France, valued at £4 billion, extending its duration until 2030. The announcement took place during a joint press conference at the ministry's headquarters in the New Administrative Capital, following a joint declaration signed during an April summit between President Abdel Fattah El-Sisi and French President Emmanuel Macron in Cairo.

According to State Information Service Egypt, the renewed agreement signifies the ongoing development of Egyptian-French relations, which have reached the level of a strategic partnership. The focus of the agreement is on three primary areas: human development, particularly in higher education, sustainable infrastructure, and climate action through financing green projects, especially within Egypt's national platform for the 'NWFE' program. This initiative is in line with Egypt's economic narrative model that emphasizes structural reforms and a shift towards more productive and export-oriented sectors.

Al-Mashat highlighted that the agreement serves as a cornerstone of the strategic partnership with France and voiced Egypt's eagerness for increased French investments. She stressed that economic diplomacy is a crucial tool for mobilizing both domestic and international resources to support key sectors.

Ambassador Chevallier remarked that the renewed financial cooperation exemplifies the depth of bilateral relations and common goals, reinforcing commitments made during President Macron's state visit to Egypt earlier in the year.