The preliminary letters of agreement between the two countries were signed in February.
In late March, Egypt officially signed an agreement with JICA, which will provide a loan of 44 billion yen ($336 million) to fund Egypt's health insurance system.
Repayments for the loan will take place over 15 years, with a grace period of 4 years and an annual interest rate of 0.01 percent.
JICA's website states that the loan will aid in achieving the Sustainable Development Goals, including No Poverty, Good Health and Well-being, and Reduced Inequalities.
Egypt's UHIS covers over 3,000 diverse health services, including surgical interventions, medical analyses, radiology scans, tumour treatments, organ transplants, and prosthetic devices utilizing the latest advancements in the medical field.
Egypt has existing agreements with JICA, the World Bank, the French Development Agency, and the World Health Organization to finance the country's UHIS, including a $1 billion facility.