Egypt is preparing to implement the second tranche of its debt swap program with Germany, valued at €100 million, with half of the amount to be converted into development investments by the end of this year and the remaining half by June 2026.

The update was shared by Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat in an interview with Asharq Bloomberg.

The minister explained that the total value of debts allocated for conversion into development projects under the German debt swap program has exceeded €340 million.

She emphasized that the projects implemented through the program are fully owned by Egypt and aligned with national priorities, focusing primarily on sectors such as healthcare, vocational training, and climate-related initiatives.

Al-Mashat highlighted that the partnership with Germany is a strategic one, extending beyond development cooperation to include investment and trade.

She also noted that around 1,400 German companies are currently investing in Egypt, while bilateral trade between the two countries has surpassed €7 billion.