French Development Agency (AFD) North Africa and Middle East Director Marie-Hélène Loison said on Wednesday that preparations for financing the energy sector in Egypt have kicked off.

Loison was speaking on the sidelines of a ceremony held to sign a number of agreements between Egypt and France in this domain in the presence of International Cooperation Minister Sahar Nasr and French Ambassador in Cairo André Parant.

A soft loan of 150 million euros is planned to be given by Paris to support the energy sector in Egypt, said the French embassy in a press release on the occasion.

The funds will raise the domain's budget, said the statement, adding that this will cement France's role in backing the reform program adopted by the Egyptian government.

Source: MENA