Egypt, EU ink €138 mln development finance deals covering several sectors

Doaa A.Moneim , Monday 9 May 2022

Egypt and the European Union (EU) delegation in Egypt signed on Monday a number of development finance agreements worth €138 million covering healthcare, administrative reform, the environment, rural and social development, and enhancing governance.

Egypt, EU


The signing took place in a ceremony organised by Egypt’s Ministry of International Cooperation and the EU in Egypt, marking Europe Day.

The year 2022 marks 45 years of EU-Egypt bilateral relations and 50 years of regional collaboration.

The agreements are in line with a new cooperation programme (2021-2027) between the two sides to support Egyptian development efforts in a number of vital sectors, chiefly green transformation and renewable energy, said Minister of International Cooperation Rania Al-Mashat.

Al-Mashat added that the EU has extended €650 million to Egypt since 2008 to finance projects in infrastructure and other areas.

She also noted that cooperation with the EU has helped Egypt secure over €7 billion in concessional finances over the same course from European financial institutions.

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