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KfW, GIZ to open two offices in Cairo

Egypt and Germany signed on Thursday a deal for the KfW Development Bank and the German Agency for International Cooperation or (GIZ) to open two office in Cairo.

The GIZ and KfW offices will support carrying out Egyptian-German projects.

While inking the deal, Egyptian Minister of Investment and International Cooperation Sahar Nasr said Egypt is starting a new stage of strategic cooperation and development programs with Germany.

Germany has allocated funds for supporting the Egyptian economic reform program, she said.

Germany was keen on supporting small and medium sized enterprises within the framework of a comprehensive mechanism for backing the Egyptian economy, she said.

She added that the ministry coordinates with all the ministries concerned to promote major projects nationwide.

Meanwhile, German Ambassador to Egypt Julius Georg Luy stressed his country's interest in supporting Egypt and boosting development cooperation between the two countries.

He commended President Abdel Fattah El-Sisi's assertions that the coming four years will focus on education and development.

He voiced hope that cooperation between Egypt and Germany would be given a fillip.

The diplomat lauded the improvement in the Egyptian economy, considering this as the fruits of the drastic measures adopted by El-Sisi to push the wheel of Egyptian economy.

He added that this will positively affect bilateral cooperation.

 

 

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