The Financial Regulatory Authority (FRA) signed a memorandum of understanding (MoU) with the French Development Agency (FDA) on enhancing efforts to achieve the Sustainable Development Goals (SDGs) in Egypt through the non-banking financial sector.

The MoU entails a mutual commitment between the two parties to focus on expanding climate practices and sustainable financing in Egypt's non-banking financial sector through strategic collaboration. 

As per the agreement, both sides have agreed to establish a team of experts as part of a technical assistance program for a joint financing project. 

The team's objective is to provide support to the non-banking financial sector in Egypt, specifically in the field of sustainable finance.

The joint cooperation program encompasses various components, including the provision of technical assistance and the organization of multiple programs aimed at developing and enhancing the skills of the Authority's employees. 

These programs cover a wide range of topics and issues related to climate action and sustainable development, drawing inspiration from global best practices and applications.

The signing ceremony was in the presence of Chairman of FRA, Mohamed Farid.