Egypt Sees EU’s €700mn Financial Aid This Autumn – Official

Egypt is likely to receive financial assistance worth €700 million from the European Union within this autumn, an Egyptian official said on Sunday.

According to Gamal Bayoumi, Secretary-General of the European Partnership Unit at the International Cooperation Ministry, an expected amount of €700 million will be allocated for bilateral EU assistance to Egypt under the European Neighbourhood and Partnership Instrument (ENPI).

The Egyptian official further described to Amwal Al Ghad that the European Commission’s latest statement as ‘ambiguous’ as regards to the EU’s financing plan for Egypt. The EU referred in its statement to nine countries that will benefit from the financing plan; Morocco (900 million euros), Tunisia (246 million euros), Algeria (148 million euros), Libya (44 million euros), Jordan (348 million euros) and Lebanon (159 million euros).

Hence, Bayoumi said he held a meeting last Wednesday with Ambassador James Moran – Head of European Union Delegation to Egypt. During the meeting, Moran denied halting the EU financial assistance to Egypt, saying the delay was due to relevant execution arrangements, the Egyptian official noted.