Enhanced economic cooperation between Egypt and Germany

An economic cooperation protocol for 1999 was signed yesterday between Egypt and Germany.

The German ambassador in Cairo, Peter Dingens, praised the positive outcomes achieved by the economic program in Egypt.

Minister of State for Planning and International Cooperation Zafir El-Bishri signed the agreement for Egypt, while Dingens signed for the German side.

Dingens said the Egyptian economic success is greatly appreciated and welcomed by the German government and will contribute to enhanced economic cooperation between the two countries.

He said Germany had allocated 160 million marks to Egypt, which includes 84 million marks in the form of grants, 76 million marks as loans to be paid over 40 years, and 22 million marks in technical aid.

They also agreed upon redirecting 42 million marks within previous agreements for a total German contribution this year of 202 million marks.