Home / World / France to sell 30 fighter jets to Egypt for $ 4.5 billion – Egypt’s Defense Ministry reported.

France to sell 30 fighter jets to Egypt for $ 4.5 billion – Egypt’s Defense Ministry reported.

Egypt has signed a contract with France to buy 30 Rafale fighters, the Defense Ministry said in a statement earlier Tuesday in a deal that investigative websites revealed on Monday worth 3.75 billion euros ($ 4.5 billion).

President Emmanuel Macron said in December he would not sell arms to Egypt on human rights terms because he did not want to diminish Cairo̵

7;s ability to combat terrorism in the region. Down, which is a comment that has generated the ire of critics.

Egypt’s defense ministry said the deal would be financed through repayable loans for at least 10 years, but did not disclose the value of the deal or any additional details.

Citing confidential documents, the disclosure said the deal was finalized at the end of April and could seal the deal on Tuesday when the Egyptian delegation arrived in Paris.

The deal will enhance the efficiency of the fighters produced by Dassault (DASS.N) after the € 2.5 billion deal was finalized in January for the sale of 18 Rafales to Greece.

The Egyptian deal also covers a contract for missile carrier MBDA and equipment operator Safran Electronics & Defense (SAF) worth another 200 million euros.

The French foreign finance ministry and armed forces were not immediately available for comment.

France was the primary supplier of arms to Egypt between 2013-2017, including the sale of 24 fighters with 12 more options.Those contracts were expired, including a deal for Rafale’s jets and warships at the top.

The diplomat said this had to do with financial problems as much as fears about Cairo’s long-term ability to repay state-backed loans instead of worries that Paris has. On the human rights situation in Egypt

Benedicte Jeannerod, the French director of Human Rights Watch, immediately condemned the deal.

“With the signing of a large arms contract with (Egyptian President Abdel Fattah al-) Sisi’s government as the latter presides over the worst crackdown in decades in Egypt, eradicating human rights communities in the country and carrying out violations. Seriously under The excuse to fight French terrorism is merely a support for this brutal crackdown, ”Jeannerod told Reuters.

It revealed funding for the deal would be guaranteed up to 85% by the French state, with BNP Paribas SA, Credit Agricole, Societe Generale and CIC sponsoring the original deal and re-registering. The bank was not immediately available for comment.

Concerned by the political vacuum in Libya, regional instability and the threat of jihadists in Egypt, the two countries have cultivated closer economic and military ties since Sisi’s rise to power.

Rights organizations accused Macron of ignoring what they said was an escalation of liberties violations by the Sisi government.

French officials denied this and said Paris was following a policy not to publicly criticize countries for human rights in order to be more effective privately, on a case-by-case basis.

($ 1 = 0.83 euro)

Our Standard: The Thomson Reuters Trust Principle.

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