Egypt and Belgium signed a memorandum of understanding (MoU) worth EGP 16m in order to contribute toward the restoration and re-employment of the Baron Empain Palace in the framework of the Belgian debt swap.
The MoU stated that the exchange amount will be used to finance the ‘Restoration of Baron Empain Palace’ project, so as to provide an integrated gate for the restoration of the palace, and upgrade the current situation.
Furthermore, the MoU provides a plan to manage the site based on specialised studies to achieve the purposes of protecting and preserving archaeological elements and their history, in addition to preserving the surrounding environment.
