The Japanese International Cooperation Agency (JICA) will provide USD 18 mn to develop a new building for outpatient clinics of Abu El Reesh Pediatric Hospital, aiming to bolster Egypt’s healthcare sector and enhance medical services offered to citizens, Invest-Gate reports.

The agreement was inked between Minister of Higher Education and Scientific Research Khalid Abdul Ghaffar, Senior Representative of JICA Akihiro Iwasaki, Japan’s Ambassador to Egypt Masaki Noki, and Minister of Investment and International Cooperation Sahar Nasr, who confirmed that the new project will serve about 90,000 children patients annually, according to a ministerial statement on June 16.

The total value of financing obtained by Egypt from JICA logged USD 2.4 bn directed to a wide range of developments in the fields of power, archaeology, education, health, civil aviation, and irrigation, Iwasaki confirmed.

On her part, Nasr called on the Japanese party to boost investments in Egypt’s various sectors, noting that there are 106 Japanese companies currently operating in Egypt. According to the minister, Japanese investments in Egypt jumped by 74% during FY 2018/19 compared to the prior fiscal year.

Back in May, JICA had promised a USD 250 mn loan to help finance the state’s health insurance plan, under the Universal Healthcare Act, willing to take part in funding the construction of the hospitals and medical centers required to implement such scheme, according to a previous cabinet statement.