Cyprus and Egypt sign series of bilateral deals - CYPRUS MAIL

Cyprus Finance Minister Harris Georghiades and Egypt's Minister
for Investment and International Cooperation Dr Sahar Nasr

MARCH 3RD, 2017

CYPRUS and Egypt on Friday signed a series of agreements and MoUs to enhance bilateral ties and further their strategic partnership.

During a ceremony in Nicosia, Finance minister Harris Georgiades, and his Egyptian counterpart Sahar Nasr, signed an agreement in the field of labour.

The Egyptian minister also signed an agreement with Transport minister Marios Demetriades on the protection and return of stolen or illicitly imported, exported or transferred cultural property.

MoUs were also signed with the Cyprus Investment Promotion Agency and the
Chamber of Commerce and Industry with the Egyptian businessmen’s association.

Georgiades spoke of “another important step in enhancing the political and economic ties” between the two countries.

“We consider our relationship with Egypt as one of strategic importance. We consider Egypt a valued partner and we remain committed to further expanding and enhancing our already excellent and closed ties and today we have made an important step in this direction,” he said.

France to support Egypt’s Energy sector with EUR 175 mn - ENTERPRISE

French President Francois Hollande (R) and his Egyptian counterpart
Abdel Fattah al-Sisi in Paris on 26 November, 2014 (AA)

Wednesday, 28 December 2016

France will support Egypt’s energy sector to the tune of EUR 175 mn, including EUR 150 mn for electricity and EUR 25 mn for the oil and gas sector, the International Cooperation Ministry announced. Minister Sahar Nasr reached the agreement with French Minister of State for Development and Francophonie, Jean-Marie Le Guen, during his visit to Cairo this week.

Saudi Arabia vows fresh loans to Egypt to develop Sinai, purchase oil | Ahram Online

Egyptian International Cooperation Minister Sahar Nasr chairs the third meeting of the Saudi-Egyptian Business Council in Ryiadh, Saudi Arabia, Jan 4, 2016
(Photo: Courtesy of the Egyptian International Cooperation Ministry)

Bassem Abo Alabass , Monday 4 Jan 2016

Egypt agreed with Saudi Arabia to borrow $1.5 billion to develop the Sinai Peninsula, $1.2 billion to finance oil purchases over coming three months, Egyptian International Cooperation Minister Sahar Nasr said on Monday.

Another $1.5 billion in loans for Egypt’s Sinai development over five years were announced in December to be negotiated with the Kuwait Fund for Development, the Abu Dhabi Fund, the Arab Fund for Economic and Social Development and the Islamic Development Fund.

Negotiations with the oil-rich kingdom are ongoing to agree on financing Egypt’s oil purchases within the coming five years, Nasr told Ahram Online via text message from the Saudi capital Ryiadh, where she arrived to chair the third meeting of the Egyptian-Saudi coordination Council.

The council’s fourth meeting is scheduled to be held in Cairo on 24 January, according to the minister.

Nasr said to urge the Saudi Public Investment Fund to quicken injecting 30 billion riyals ($8 billion) in new investments in Egypt’s sectors of housing, energy and tourism that were pledged by Deputy Crown Prince and Defense Minister Mohammed bin Salman last month. 

Saudi Arabia has supported Cairo with billions of dollars in aid, grants, and cash deposits after the 2013 ouster of president Mohamed Morsi to help buoy the country's economy after several years of political upheaval sent foreign reserves tumbling.

Egypt's net foreign reserves stood at $16.4 billion at the end of November.

SOURCE