The French Agency for Development (AFD) and the EU signed an umbrella agreement with the Government of Egypt for the value of EUR 52.3 million. The fund will be used to boost the agriculture sector. In specific the fund will 1) Improve access to financial services for agricultural SMEs 2) Provide technical assistance and build the capacity of farmers and SMEs and 3) Strengthen the value chain within the diary and aquaculture sectors. AFD has pledged to fund the construction of line four of the Cairo Metro; the supply of natural gas and house connections with the amount of 70 M Euro, a credit line of 80 M Euro to boost employment through SMEs and finally funding a project related to the development of renewable solar energy.

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By NO Comment 30th April 2015

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