Egypt has received grants worth CHF 86 million ($90,561 million) under the Egypt-Switzerland cooperation strategy from 2017 to 2020, the Egyptian Ministry of International Cooperation said in a statement.

In talks held virtually on Monday, Minister of International Cooperation Rania Al-Mashat discussed with Swiss Ambassador to Egypt Paul Garnier the new cooperation strategy between the two countries over the coming four years (2021-2024) that aims to deepen bilateral partnership.

The Swiss Cooperation Strategy in Egypt for the period 2017-2020 is implemented through activities in three domains: democratic processes and human rights, inclusive sustainable economic growth and employment, and Protection and migration, according to the Swiss Cooperation Office in Egypt.

Al-Mashat said that the 2021-2024 strategy comes in line with the international cooperation ministry’s P&P&P strategy that concentrates on the international partnerships and their role in achieving Egypt’s sustainable development goals, with a special focus on small and medium-sized enterprises (SMEs), entrepreneurship, digital transformation, education, technical training, health, agriculture, and renewable energy sectors.

Development partnership between the two countries, which records CHF 700 million ($736,8 million), has contributed to implementing 200 projects, while the ongoing cooperation portfolio reaches approximately €48 million in communications, urban planning, sanitation, textiles, health, and the environment.

Ambassador Garnier asserted Switzerland’s support of Egypt’s economic reform process, adding that his country will focus on consistency in the international cooperation’s strategy over the coming four years, especially in SMEs and education.

Egypt is the largest market for Swiss exports in Africa, with a bilateral trade value of $1.3 billion in 2019, according to the Swiss Embassy in Cairo.

In 2019, over 60 Swiss companies were established across various sectors in the Egyptian market, according to the embassy.