• Egypt and Germany sign a $134 million agreement to support education and wind energy projects

• €32 million will fund 25 Centers of Excellence and applied technology schools

• Total value of debt swap instalments between both countries now reaches $338 million

Egypt and Germany have signed a financial cooperation agreement worth €118 million (about $134 million) to support the education and energy sectors, according to a statement issued by the Ministry of Planning, Economic Development, and International Cooperation on Monday, May 26, 2025.

The agreement allocates €32 million in grant funding to expand inclusive technical education. This will support the creation of 25 Egyptian Centers of Excellence, including applied technology schools and sector-specific training centers, aiming to enhance workforce skills in key economic areas.

An additional €86 million, comprised of €54 million in concessional financing and another €32 million in grant support, will fund the interconnection of the ACWA Power 1 and 2 wind farms. These projects are expected to deliver 1,100 megawatts of wind energy under Egypt’s 'Noufi' green investment program, launched in 2022.

The partnership forms part of an ongoing bilateral effort to promote economic development, climate resilience, and investment in human capital. Egypt is pursuing major reforms in the education sector, including increasing staffing and expanding infrastructure, while also pushing forward with energy diversification plans. The country aims to achieve a 42% renewable energy share in its electricity mix by 2030.

As part of the broader cooperation, the two countries also signed a debt swap agreement involving the Central Bank of Egypt and the Ministry of Electricity and Renewable Energy, aimed at improving sustainable energy supply. This brings the total value of debt swap instalments between Egypt and Germany to €297 million (about $338 million).