PARIS (Reuters) – France and Egypt signed strategic partnership agreements on Monday, in areas covering health, transport and energy, which French President Emmanuel Macron said would help shore up Egypt’s stability amid volatility in the region. “Egypt is a strategic partner for our country,” said Macron, speaking alongside Egypt’s President Abdel Fattah al-Sisi at a […]
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France signs deals to help Egypt’s economy in volatile regional climate
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PARIS (Reuters) – France and Egypt signed strategic partnership agreements on Monday, in areas covering health, transport and energy, which French President Emmanuel Macron said would help shore up Egypt’s stability amid volatility in the region.
“Egypt is a strategic partner for our country,” said Macron, speaking alongside Egypt’s President Abdel Fattah al-Sisi at a news conference in Cairo.
“I would thus like to reaffirm France’s commitment to ensuring the stability of Egypt given the context of a worsening climate in the region and as the Egyptian economy faces challenges,” added Macron.
Macron said he continued to back talks between Egypt and the International Monetary Fund and the European Commission.
The IMF approved last month the disbursement of $1.2 billion to Egypt, which has been grappling with high inflation and shortages of foreign currency.
Macron added France’s overseas aid development body would sign 260 million euros ($284.5 million) worth of loans and grants for Egypt in areas such as transport, health, water and energy.
Macron and Egyptian President Sisi also both reaffirmed their calls for a ceasefire to the fighting in Gaza and for the release of Israeli hostages.
($1 = 0.9138 euros)
(Reporting by Sudip Kar-Gupta, Dominique Vidalon; Editing by GV De Clercq and Sharon Singleton)