French multirole fighter jet Rafale built by Dassault Aviation has won its first export contract. French Defense Minister Jean-Yves Le Drian will be in Cairo on February 16, 2015 in order to sign the contract with Egyptian President Abdel Fattah el-Sisi. The sale is worth $6,8 billion whose 50% will be financed by French credit insurer COFACE and several French banks. “The Egyptian authorities have just let me know their intention of acquiring 24 Rafale planes, a multi-mission frigate (FREMM) as well as related equipment. This equipment will allow Egypt to increase its security and to play its role in the service of regional stability,” French President François Hollande said in a statement. “This decision is a continuation of our cooperation that dates back to the 1970s, and has seen the Mirage 5, the Alpha Jet and the Mirage 2000 fly in the colors of Egypt,” Dassault Aviation was pleased to add.