2024-06-30 18:48:13
European Fee President Ursula von der Leyen introduced on Saturday that European firms will signal agreements or memoranda of understanding price greater than 40 billion euros ($42.88 billion) in Egypt, through the Egyptian-European Funding Convention presently being held in Cairo.
Alhurra TV quoted von der Leyen as saying that the European Union may also signal an settlement with Egypt price one billion euros ($1.07 billion) to help the general economic system, as a part of a bundle price 7.4 billion euros ($8 billion) that was agreed upon final March.
On Saturday, Cairo will host the Egyptian-European Funding Convention underneath the title “Egypt and the European Union,” with the participation of the Egyptian President, Abdel Fattah El-Sisi, and the President of the European Fee, in accordance with Al-Hurra’s correspondent.
The convention goals, in accordance with what the Egyptian authorities introduced, “to boost financial cooperation between Egypt and the member states of the European Union, by attracting various European investments to the nation, particularly in precedence sectors equivalent to sustainable infrastructure and renewable vitality, meals safety, well being, schooling, and transportation.” Sustainable water and sanitation networks.
Final March, the European Union pledged €7.4 billion ($8 billion) in funding to Egypt over 4 years, together with loans, support and investments in varied sectors.
Since final March, overseas funding has been flowing to debt-laden Egypt, after an settlement with the Worldwide Financial Fund to renew the financial reform program that was agreed upon in December 2022.
A number of days in the past, the Egyptian Ministry of Worldwide Cooperation introduced that it had mobilized gentle financing price two billion {dollars} from the World Financial institution, the European Union, the African Improvement Financial institution and South Korea, to help the funds, structural reform efforts and empower the non-public sector.
Final up to date: June 29, 2024 – 21:59
Counsel a correction
2024-06-30 18:48:13