France and Egypt have forged a series of strategic agreements aimed at bolstering Egypt’s economy and stability, with a focus on health, transport, and energy sectors.
French President Emmanuel Macron emphasized Egypt’s importance as a key regional partner, particularly as the country grapples with economic challenges and regional instability.
During a joint press conference with Egyptian President Abdel Fattah al-Sisi in Cairo, Macron reaffirmed France’s commitment to Egypt’s stability.
He highlighted the worsening regional climate and Egypt’s ongoing economic struggles, including high inflation and foreign currency shortages.
Macron also reiterated France’s support for Egypt’s discussions with the International Monetary Fund (IMF) and the European Commission, which resulted in a $1.2 billion IMF disbursement to Egypt last month.
As part of the agreements, France’s development agency will provide loans and grants totaling 260 million euros ($284.5 million) to Egypt. These funds will support various sectors, including transport, water, and energy.
Additionally, both leaders called for an immediate ceasefire in Gaza and the release of Israeli hostages, signaling their shared commitment to regional peace.
These initiatives reflect France’s strategic partnership with Egypt in a time of growing volatility in the Middle East, marking a significant step in strengthening ties between the two nations.
