Egypt’s Rafale Deal with France Comes Into Force
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The contract for Egypt’s acquisition of 30 additional Rafales to equip its air force comes into force.
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The Rafale deal is worth $4.52 billion
Dassault Aviation announced that the contract for Egypt's acquisition of 30 additional Rafales to equip its air force came into force.
This makes the Egyptian Air Force the second in the world, after the French Air Force, to operate such a fleet of Rafales.
Investigative website Disclose unveiled Monday that France has agreed to sell 30 Rafale fighter jets to the Egyptian government as part of a deal worth $4.52 billion.
The agreement includes contracts from the missile manufacturing company MBDA and Safran Electronics and Defense to supply another 200 million euros worth of military equipment, the agreement said.
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.
Egypt's Defense Ministry had said the deal would be financed through a loan to be re-paid over at least 10 years without disclosing the value of the deal or further details.
