Agreement Signed between Egypt and Germany to Establish Two Offices for KFW and GIZ in Cairo
Agreement Signed between Egypt and Germany to Establish Two Offices for KFW and GIZ in Cairo
Source : Ministry of Investment and International Cooperation
05-Jul-2018
On 7 June 2018, Egypt and Germany signed an agreement for establishing two offices for KWF and GIZ in Cairo. The agreement was signed by the Minister of Investment and International Cooperation Dr. Sahar Nasr and the German Ambassador to Cairo Mr. Georg Luy, in presence of Director of KfW in Cairo Mr. Borchard Haines, Director of GIZ Mr. Andreas Kok, the Minister’s Advisor and Head of the EU Sector at MIIC Ambassador Reda Beibars, the official in charge of Germany’s file at MIIC Ms. Darine Al-Sayed as well as representatives of the German Embassy in Cairo.
The agreement provided for establishing two offices for GIZ and KFW in Cairo with a view to support development cooperation between Egypt and Germany and implement projects between both countries. It is expected that GIZ office will be responsible for providing support to projects and programs implemented by GIZ in Egypt, while KFW office will be responsible for providing support to Egypt and projects’ implementing agencies with regard to the implementation of financial cooperation projects and programs implemented on behalf of the German Government.
During her speech, the Minister emphasized that Egypt began a new phase of strategic relations and developmental programs with Germany, while expressing her pleasure with the opening of two offices for KFW and GIZ in Cairo and noting that Germany directed funds to support the Egyptian economic program following the success of economic reforms carried out by the Egyptian Government.
The Minister mentioned that Germany was keen on supporting small investors and SMEs within the framework of an integrated system for supporting the Egyptian economy. She pointed out that coordination was underway between MIIC and all ministries to support major projects nationwide and achieve development.
On his part, Ambassador Luy attributed the success of the agreement to the efforts exerted by Dr. Nasr, reiterating Germany’s keenness on supporting Egypt to increase development cooperation between both countries. He further commended the President’s declaration that focus would be given to education and development during the four upcoming years, looking forward to boost cooperation between Egypt and Germany.
In addition, the German Ambassador commended improvements of the Egyptian economy due to the courageous steps taken by President El-Sisi, asserting that KFW and GIZ would provide further expertise to serve economic and developmental cooperation between both countries. He added that the Egyptian Government’s inclusive development programs contributed to political and economic stability, noting that the Egyptian society had creative powers that contribute to strengthening bilateral cooperation.
It is worth noting that The KFW has contributed to the development process in Egypt by providing funding in several sectors, topped by renewable energy, energy efficiency, water resources, irrigation, sewage and solid waste, as well as grants for complementary work related to project implementation. The most important financed projects include the rehabilitation of hydroelectric power stations and renewable energy - solar power plant, energy efficiency program, financing of micro, small and medium projects. GIZ, on the other hand, provided technical support through grants in several sectors, topped by the sustainable economic development as well as other areas that support institutional development such as vocational training programs, basic education and urban development in Mansheyet Nasser and Bulaq El Dakrour, urban development in urban areas, the promotion of women's rights, the management of potable water and sanitation, and the water resource management reform program.