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EU grants to Egypt currently totalling €1 billion: official

The European Union grants to Egypt, covering all sectors, stand at a current one billion euros, an EU official said Monday.

“We contribute nearly 100 million euros in the form of other grants, and are currently setting our priorities for the coming period with the Egyptian government,” said Diego Escalona, head of cooperation at the European Union Delegation to Egypt

EU financial grants cover subway projects, new and renewable energy and small and medium-size enterprises, Escalona said, speaking on the sidelines of a joint conference by the Egyptian government and the EU.

“We are working on drawing more European finances, and we have 340 million euros in the water sector, and are seeking to attract 1.3 billion euros in the form of loans from European banks to reinforce the water sector in Egypt,” Al-Masry Al-Youm quoted him as saying.

The EU is also mulling 40 million euros in finances from Germany’s KFW Development Bank for the “support of rural areas,” as Escalona put it.

Source: Egypt Independent

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