The development portfolio between Egypt and Japan has reached a value of $3.9 billion over 18 projects since 2010.
This was revealed in a report issued by Egypt’s Ministry of International Cooperation on Tuesday May 2, 2023, only a few days after several news agreements were signed by the two countries.
Cooperation between Japan and Egypt covers projects in various fields, including health, education, energy, electricity, transportation, civil aviation, tourism and antiquities, irrigation and education, according to the report.
The partnerships with Japan support Egypt’s sustainable economic growth, social inclusion, education development, human resource development, regional cooperation and national strategy to combat climate change.
Egypt and Japan hold annual high-level policy dialogues to discuss proposals for future cooperation and technical cooperation, in line with development pillars and Egypt’s Vision 2030.
During their annual meetings, both sides exchange views on future cooperation in accordance with development priorities. They also discuss ongoing projects to achieve sustainable development goals and how to overcome obstacles that prevent their implementation.
This year’s annual meeting is scheduled to be held in June.
In April, Japanese Prime Minister Kishida Fumio arrived in Egypt for a three-day visit as part of his four-nation Africa tour. This is his first visit to the region since assuming office in October 2021.
During his visit, Fumio witnessed the signing of several MoUs and agreements between Egypt and Japan in communication and information technology, law and the judiciary.
Egyptian Prime Minister Mostafa Madbouly announced on Sunday that Japan will provide the third tranche of funding, worth 100 billion Japanese yen (around $733 million), to Egypt to finance Cairo’s fourth metro line.
Japanese investments in Egypt surged by 98.7 percent to $73.7 million in FY2021/2022 from $37.1 million in FY2020/2021.
