Egypt negotiating €207 million financing from Germany during Sisi’s visit

Egypt will negotiate a €207 million ($231.7 million) financing from Germany during Egyptian President Abdel Fattah al-Sisi’s anticipated visit to the country next week.

The money will go for a number of projects in Egypt in areas of new and renewable energy, small-sized industries, entrepreneurship, agriculture, and skills development, Egyptian Minister of Investment and International Cooperation Sahar Nasr said.

An Egyptian delegation headed by President Sisi will take part in the G20 Conference on Africa, which will take place in Berlin between June 12-13.

30 percent of the money will be in form of non-refundable grants, Minister Nasr told Amwal Al Ghad.