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France And Egypt Negotiating Rafale Fighter Jet Deal: Newspaper - Yahoo News

The business daily said the two countries were close to finalising a deal for 24 jets and a naval frigate worth 5 to 6 billion euros. The deal could be financed by as much as 50 percent through a credit facility arranged by French credit insurer Coface. A spokesman for Dassault declined to comment. Paris and Cairo have enjoyed close economic ties this link in the past but turmoil in the north African state since president Hosni Mubarak was overthrown in 2011 left Western governments wary of signing contracts, especially in the defence sector. With the recent rise to power of President Abdel Fattah al-Sisi, ties have improved and both sides are concerned by the rise of jihadist groups in Libya and Egypt. France secured its first major military contract in Egypt in about 20 years in 2014 with a 1 billion-euro ($1.35 this one billion) deal to sell four naval frigates.
More: http://news.yahoo.com/france-egypt-negotiating-rafale-fighter-jet-deal-newspaper-074803172--finance.html

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