The government inks three agreements worth EUR 203.5 mn with Germany to boost cooperation in the areas of renewable energy, small-and medium enterprises as well as education, Invest-Gate reports.

Minister of Investment and International Cooperation Sahar Nasr says, “German-Egyptian mutual relations are very strong as the number of German firms in Egypt has currently hit 1,039.”

The senior official adds that cooperation between the two countries is focusing on four pillars: economic sustainable development, renewable energy, water and irrigation resources and sewage system. Germany ranks 20th among foreign investors in Egypt.

The signing agreement came during President Abdel Fattah El Sisi’s visit to Germany which ended on Tuesday.