#development aid
The German Development Bank (KfW), on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), signed a debt swap agreement worth EUR 54 million (EGP 1.8 billion) with the Ministry of International Cooperation, the Ministry of Electricity and Renewable Energy, and the Central Bank of Egypt. This agreement exempts Egypt from repaying debts amounting to EUR 54 million (EGP 1.8 billion) owed to Germany, enabling it to allocate the funds towards bolstering the transition to green energy…
