Egypt to purchase 24 Rafale from France
Almasalla, ATP News- France appears to have won precious time on the Rafale program, with Egypt buying the twinjet fighters in an arms package worth €5.2 billion (US $5.9 billion), relieving domestic budgetary pressure.
Egypt has decided to buy 24 Rafale fighter jets and a multimission frigate, with a contract signing to be held in Cairo on Feb. 16, President François Hollande said in a Feb. 12 statement.
The Egyptian economy has been under pressure for three years amid deep social unrest and a sharp fall in tourism. Human rights issues and the Army’s ejection of the government have raised concerns overseas.
"The Egyptian authorities have informed me today of their intention to acquire 24 Rafale combat aircraft and a multimission frigate as well as related equipment," Hollande said. "This equipment will allow Egypt to increase its security and play fully its role in promoting regional stability.
Egypt will pay for half of the total deal using its own funds, with the other half financed by bank loans, the official said.
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