French banks and an insurance company are expected finance the approximate Euro 6 billion required to purchase 24 Dassault Rafale fighters and a DCNS frigate.
Half the amount could come from Coface (French Insurance Company for Foreign Trade) and the rest as loan from a consortium of banks, according to a report in Les Echos publication last Friday.
It is unclear if Egypt will buy the aircraft on loan from French banks or will stand sovereign guarantee for the Egyptian Air Force or MoD which will take the loan to pay Dassault.
The deal is expected to go through quickly as there is no transfer of technology requiring complex negotiations as is the case with Dassault’s India. Talks are on since 2012 for the sale of 126 fighters, 16 in flyaway condition and 108 to be manufactured in India.
Eric Trappier, CEO of Dassault was quoted as saying in Le Figaro on Saturday (Translated from French): "We are close to succeeding the first export contract for the Rafale. We have several prospects in the Middle East. In Egypt, there are still several steps to go. We conduct in-depth work with India which is a very complex issue in terms of industrial assembly.
The United States government is planning a new financing option to enable its allies and partners buy American weapons as part of the Trump administrations goal of enabling defense contractors grow their sales. The US administration had liberalized the sale of unmanned aerial systems in April this year and plans further initiatives to counter competition from China, Israel and Russia among others, participants at a Center for Strategic and International Studies (CSIS) event in Washington on Wednesday said
Dassault may be signing deals with Egypt and Qatar to sell 12 Rafale fighter jets to each of them within the next two months. Egypt and Qatar could convert their options on 12 additional Rafale fighters each by the end of the year and order 24 aircraft altogether, according to the LaTribune publication
The Indian Navy has reportedly asked Russia to prove single engine landing of the MiG-29K on the INS Vikramaditya aircraft carrier as a safety measure in case one of the two engine fails on Indias only carrier based fighter. The Hindu newspaper reported last week that the Russian side will be carrying out the proving trials on its own carrier in Russia, Admiral Kuznetsov
Saudi Arabia, UAE, Kuwait pumped US$19.5 billion into the Egyptian central bank which enabled French lending institutions to finance Cairos Dassault Rafale fighter purchase
France has closed a €5.2 billion ($5
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