France announced on Tuesday that it will sell 30 Dassault warplanes to Egypt starting in 2024 in a $4.8 billion deal, reported Reuters.
The move is widely seen as part of a strategy on behalf of France to increase security ties with Egypt in the shared fight against Islamist terrorism.
French Armed Forces Minister Florence Parly said on Tuesday that the deal expressed the “strategic nature of the partnership” between France and Egypt.
"Our two countries are resolutely committed to the fight against terrorism and work for stability," she said.
Between 2010 and 2019, France signed over $9 billion in arms deal with Egypt, including 24 Rafale warplanes in 2015.
In the last two years, arms sales to Egypt had slowed due to worries about Cairo’s ability to repay state-backed loans.