EU discussing €370 mln grants for Egypt budget support scheme

Egypt is discussing with the European Union current cooperation portfolio including budget support programme with grants worth €370 million ($418.8 million) to support the sectors of water, health, and energy.

Egyptian Minister of International Cooperation Sahar Nasr received James Moran – Head of the European Union Delegation to Egypt – on Monday to discuss the current cooperation portfolio and future cooperation areas between Egypt and the EU.

Nasr emphasised the importance of enhancing cooperation between Egypt and the EU, in line with the government’s current programme that focuses on development projects, which would, in turn, provide job opportunities and improve standards of living.

Both Nasr and Moran tackled the future cooperation portfolio as well as agreements expected to be signed with the EU before the end of 2016, including the comprehensive economic development project and the informal areas development programme. Within this framework, Nasr emphasised her ministry’s keenness to cooperate with development partners to implement projects that would meet citizens’ needs and conform with the state’s priorities. These projects are set to achieve comprehensive economic growth goals, provide job opportunities, and improve standards of living through focusing on a number of priority sectors such as SMEs and energy.

The Egyptian Government is looking forward to further support from the EU to proceed with carrying out economic development plans, Nasr said.

Relations between Egypt and the EU are deep-rooted and are based on a strategic partnership, thus Egypt is keen on enhancing such relations during the upcoming period, added Nasr.

From his part, Moran asserted his keenness to support Egypt’s development projects.