On Monday, France and Egypt formalized strategic partnership agreements focusing on health, transportation, and energy. French President Emmanuel Macron emphasized that these agreements would bolster Egypt’s stability in light of regional volatility.
“Egypt is a key strategic ally for our nation,” Macron stated during a press conference in Cairo, alongside Egyptian President Abdel Fattah al-Sisi.
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He further expressed France’s dedication to supporting Egypt’s stability, particularly as the region faces increasing challenges and the Egyptian economy encounters difficulties.
Macron reiterated his support for ongoing discussions between Egypt, the International Monetary Fund (IMF), and the European Commission. Recently, the IMF approved a $1.2 billion disbursement to Egypt, which is currently dealing with high inflation and foreign currency shortages.
Additionally, Macron announced that France’s development aid agency would provide loans and grants totaling 260 million euros ($284.5 million) to Egypt, targeting sectors such as transportation, health, water, and energy.
Both Macron and President Sisi also reiterated their calls for a ceasefire in Gaza and the release of Israeli hostages.
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