Germany is planning to pump investments worth EUR 203.5 mn in Egypt to fund future developmental projects and boost the national economy, Invest-Gate reports.

The envisioned projects cover the sectors of education, renewable energy, irrigation, as well as small- and medium-sized enterprises.

The new German investments were announced in a statement released by Minister of Investment and International Cooperation Sahar Nasr on March 2. It also came ahead of President Abdel-Fattah El-Sisi’s iconic summit with German Chancellor Angela Merkel later in the day.

Nasr also held talks with German Chancellor’s Africa Representative Guenter Nooke, where they discussed a German initiative aiming to encourage economic growth in Africa, providing job opportunities, and easing the flow of German investments into the African continent.