Tuesday, June 15, 2021
Home Global & Regional News France agrees to sell 30 Rafale to Egyptian Military

France agrees to sell 30 Rafale to Egyptian Military

Cairo: With an aim of shoring up “national security,” Egypt ordered 30 Rafale jets from French defense firm Dassault Aviation, the North African country’s military confirmed in a statement.
The order, which follows the 2015 purchase of 24 Rafale jets, will be financed through a 10-year loan, the military said.
Investigative site Disclose had reported earlier Monday that the order was part of a secret mega-defense deal worth 3.75 billion euros ($4.5 billion).
Citing confidential documents, Disclose said an agreement had been concluded at the end of April and a deal could be sealed on Tuesday when an Egyptian delegation arrives in Paris.
The Egyptian accord also reportedly covers contracts for missile provider MBDA and equipment provider Safran Electronics & Defense, which are worth another 200 million euros.
France’s finance, foreign and armed forces ministries were not immediately available for comment.
This deal would be a further boost for the Dassault-made warplane after a 2.5 billion-euro agreement was finalized in January for the sale of 18 Rafales to Greece.
Disclose said financing for the deal would be up to 85% guaranteed by the French state with BNP Paribas SA, Credit Agricole, Societe Generale and CIC, which funded the original deal, signing up again. The banks were not immediately available for comment.
Egypt is the world’s third biggest arms importer after Saudi Arabia and India, according to the Stockholm International Peace Research Institute (SIPRI).
Its arms purchases grew by 136% over the last decade, and it has diversified its sourcing beyond the United States, buying military equipment from France, Germany and Russia, the institute said in a report released earlier this year. – Agencies

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