Taking the renovations of Heliopolis’ iconic Baron Palace to a further step forward, Egypt and Belgium have signed a memorandum of understanding granting the palace EGP 16 million for its restoration. The MoU of the fund, which was signed on Thursday, seeks to establish a plan to manage and maintain the palace. “We are currently considering expanding the loan exchange programme with Belgium, Italy, and Germany as this allows for investing the loans in priority venture and development projects in Egypt,” said Egyptian Minister of Investment and International Cooperation Sahar Nasr according to Al Ahram. The signing of the MoU was attended by Nasr, Ministry of Antiquities Khaled El Anani and Belgian Ambassador to Egypt Sibille de Cartier. The news was also shared by the Embassy of Belgium on its official Twitter account in which it expressed pride in its contribution to preserve cultural heritage #Belgium and #Egypt signed a debt swap agreement for the renovation of the Empain Palace in #Heliopolis. We are proud to contribute to the preservation of this important common heritage and hope it will lead to many more initiatives to protect and renovate the “city…
Egypt-Belgium MoU Secures EGP 16 m For Baron Palace Renovation
September 13, 2019
