Egypt obtains $77m grant from French aid organization

Egypt signed two agreements on Tuesday with Agence Française de Développement (AFD) under which it gets a grant worth €69 million ($77 million).

The two agreements were signed by the Egyptian Minister of International Cooperation Sahar Nasr at the AFD office in Cairo.

The grant is dedicated to the fields of vocational training, health, energy, urban transport and the delivery of the natural gas to homes, according to a statement by the Ministry of International Cooperation.

Nasr said that the grant will help facilitate projects to be financed according to the Egyptians’ priorities.

AFD is a developmental institution affiliated to the French government, working since it was founded in 1941 to finance projects aimed at bringing economic and social development in developing and less-developed countries.