Cairo - Mubasher: Both Egypt and Austria agreed on extending a bilateral financial cooperation agreement worth EUR 50 million to 2018, said Minister of International Cooperation, Sahar Nasr.

The agreement came as a part of the Austrian Ambassador Georg Stillfried visit to Egypt.

The Minister commended Austria’s significant role in enhancing bilateral economic cooperation relations dating back to 1975, given that Austria contributed to financing several projects, the most important of which are establishing an information network for river transport in the transport sector with an amount worth EUR 9.2 million, procuring 4 railway maintenance machines worth EUR 7.5 million, the desalination project worth EUR 10 million in Al-Arish and Sidi abdel Rahman and procuring devices within the framework of the railways restructuring program worth EUR 10 million.

Both sides discussed projects of potential cooperation during the upcoming period in the health, agricultural and transport sectors as well as preparations for holding the 3rd session of the Egyptian-Austrian joint committee for economic cooperation to discuss the means of cooperation in all fields.