Cairo : Dr. Rania Al Mashat, Minister of Planning, Economic Development, and International Cooperation of Egypt, signed three agreements with, Fuji Hisaoyuki, State Minister for Foreign Affairs of Japan, valued at $234 million.
These agreements include grants and concessional development financing aimed at budgetary support, private sector development, improving livelihoods for small-scale farmers, and renovating the Cairo Opera House.
The agreements were signed during Minister Dr. Al Mashat participation in Japan’s celebration of 70 years of development cooperation with Egypt, according to the Middle East News Agency (MENA).
In a statement issued by Egypt’s Ministry of Planning and Economic Development, it was noted that the agreements include a development policy loan worth 35 billion Japanese yen (approximately $230 million). This loan supports Egypt’s private sector development, economic diversification, and budgetary needs, as part of national efforts to mitigate global economic pressures and promote structural reforms. It aims to encourage private sector investments, enhance the business climate, foster competition, and support green economic transformation.
Additionally, Minister Dr. Al Mashat signed a grant agreement worth 180 million Japanese yen (approximately $1.17 million) to renovate the National Cultural Centre; the Cairo Opera House. The grant will fund infrastructure improvements, equipment upgrades, and service enhancements, in collaboration with the Japan International Cooperation Agency (JICA), Egypt’s Ministry of Culture, and the Cultural Centre.
A further grant of 500 million Japanese yen (approximately $2.3 million) was signed for an economic and social development programme under the Ministry of Agriculture. The grant seeks to expand affordable agricultural mechanisation technologies, reduce operating costs, increase agricultural productivity, and cultivate more arable land, thereby improving the livelihoods of low-income farmers, particularly those most vulnerable.
