Cairo – Mubasher: Egypt and Switzerland have signed a cooperation agreement for the two countries’ economic strategy for the period between 2017 and 2020.

The CHF 86 million ($86.7 million) agreement will contribute to achieving Egypt’s sustainable development goals (SDGs).

Egypt’s minister of investment and international cooperation Sahar Nasr signed the deal with her counterpart Swiss state secretary for economic affairs Marie-Gabrielle Ineichen-Fleisch on Wednesday.

The strategy is important as it aligns with the Egyptian society’s needs, Nasr said in a ministry statement, indicating that the agreement will contribute to several fields that would “improve standards of living, topped by economic growth.”

The deal further entails collaboration in the form of investments in Egypt’s New Administrative Capital alongside new cities, water desalination plants, social housing, and increasing support of financial inclusion, non-banking sector, and women and youth. 

“On her part, Ms. Ineichen-Fleisch reiterated that creating job opportunities for Egyptians and improving their lives topped the Swiss priorities,” according to the statement.

Switzerland had previously launched a number of projects worth around CHF 33.7 million ($33.98 million) in several Egyptian governorates and sectors.

The Swiss official said that the funds provided by her country “have served millions of citizens and the Swiss development of the National Center for Blood Transfusion provided half a million citizens with safe blood transfusion services.”

“Swiss infrastructure projects in Egypt contributed to providing half a million citizens with clean water and sanitation services and that 1.8 million citizens benefited from services provided by the X-ray detection centers. The Swiss government provided approximately 45 thousand refugees in Egypt with humanitarian aid,” the statement added, citing Ineichen-Fleisch.