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Egypt signs financing deal with JICA at 44 billion yen 

Egypt’s Finance Minister Mohamed Maait and the Chief Representative of the Japan International Cooperation Agency (JICA) Egypt Office, Kato Ken, signed an executive agreement for a concessional development financing of about 44 billion Japanese yen, to back governmental efforts in realizing comprehensive health coverage for Egyptian citizens.

During the signing ceremony, Maait explained that this agreement with the JICA is a new impetus for the development cooperation process between the Egyptian and Japanese sides as it will help towards finalizing the national project for comprehensive health insurance in Egypt – the main tool for reforming the health sector and integrated health care for all citizens at an appropriate cost.

The agreement contributes to raising the quality of medical services provided to citizens, and helps complete the implementation of the new health insurance system over the next seven years, Maait said. 

He added that the comprehensive health insurance umbrella is planned to be extended before the end of the current fiscal year, to the rest of the governorates of the first phase – Suez, Aswan, and South Sinai – before being extended to the rest of the governorates.

Previously, in January, the Japan International Cooperation Agency approved a loan amounting to US$306 million to finance part of Line 4 of the Cairo metro in Egypt.

The money will be used to build the first phase of Line 4 of the Cairo metro system. A 19-kilometer route that runs between downtown, the Giza pyramids and the Grand Egyptian Museum.

Japanese systems and trains will also be used as part of the 40-year official development assistance loan.

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