Egypt and France signed four deals worth around $73.84 million in the fields of energy, healthcare, SMEs, and transportation, Amwal Al Ghad reported.

The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, along with the Minister of  Investment and International Cooperation, Sahar Nasr, signed a $1.85 million grant agreement with the French Ambassador to Egypt, Stéphane Romatet, and  Agence Française de Développement (AFD)’s Cairo Office Director, Stéphanie Lanfranchi.

The agreement aims to boost the technical support of the energy sector, improve the energy supplies, and obtain the optimum benefit from energy.

Egypt was reported to sign an energy agreement with the European Union (EU) before mid-2018, Egypt Oil & Gas reported.

Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, said that he expects the EU to become the main beneficiary of energy transported from Egypt.

El Molla’s statements came during his keynote speech in the International Petroleum Week, entitled “Egypt’s Role in 2018 as a Regional Centre for Energy and Oil Trade”.

The minister said that Egypt has signed a preliminary agreement with Cyprus while the two sides negotiate a more comprehensive deal.