AFD in Egypt
The French Government authorized AFD’s intervention in Egypt in 2004. The Agency started project identifications in 2005 . In April 2006, AFD and the Ministry of International Cooperation signed an Framework Agreement, approved by Presidential Decree and ratified by the Parliament; the agreement entered into force in February 2007.
The involvement of AFD in Egypt was materialized in February 2007 with the opening of the Cairo Office , which has accelerated project identification and appraisal and enhanced the dialogue with the Egyptian administration and AFD’s potential partners in the public and private sectors.
AFD provides Egypt with a broad range of financial products to implement its mission:
- Sovereign concessional loans: they are granted directly to the Egyptian State or to public institutions guaranteed by the Egyptian State.
- Non sovereign Loans: concessional or non concessional, these loans are granted directly, without State guarantee, to the private sector or to public entities (public enterprises, local or regional institutions). AFD assesses the financial situation and risk of the borrower, and defines a guarantees scheme adapted to the needs and characteristics of each project.
- AFD Grants: AFD can use grants to finance the needs in expertise and technical support related to projects.
- PROPARCO market products: subsidiary of AFD specialized in private sector financing , PROPARCO can offer loans, equity or quasi-equity funds as well as guarantees.
FFEM & PRCC Grants: mobilization of grants from the French Fund for Global Environment and from the Trade Capacity-building Program.
Total commitments of AFD Group in Egypt