The Germany-based Bild newspaper on 3 April reported that the Budestag’s Budget Committee gave its approval for an export credit guarantee for the six vessels, making it highly likely that the deal will go ahead.
The export credit provides guarantees of up to 2.3 billion euros for the transaction.
The deal which was first reported in November 2018 state that a contract between Egypt and ThyssenKrupp Marine Systems (TKMS) was signed in mid-September and was initially for four corvette versions of the vessel. however, it was increased to four frigate-sized ships valued at 2 billion Euros.
That same month, the deal was apparently scuttled as Saudi Arabia was financing the majority of the contract. In late October 2018, the deal was halted by Germany in response to the killing of journalist Jamal Khashoggi.
Egypt acquired additional Gowind 2500 multi-mission corvettes from France’s Naval Group to cover operational gaps.