EU to sign €129mn Egypt package on Oct 11

Johannes Hahn, Commissioner for European Neighbourhood Policy and Enlargement Negotiations, will visit Egypt from October 11 to 12, to sign a €129 million ($143.8 million) package of financial measures.

The main purpose of the visit is to hold talks and sign the package supporting these goals to focus the EU-Egypt partnership on priority areas for co-operation, such as socio-economic development, jobs, migration, regional affairs and citizens’ rights.

During the course of his visit, Hahn will meet key interlocutors of the country including President Abdel Fattah al-Sisi, Ministers of International Cooperation, Electricity and Renewable Energy, as well as Trade and Industry.

The EU official will also meet representatives of the business community and civil society.

“Egypt is a key partner in our neighbourhood. The EU has been deploying significant assistance and will continue to support Egypt’s economy and social development. In particular, young Egyptians deserve to be offered better perspectives.” Hahn said.

“We are already working on an “EU Facility for Inclusive Growth and Job Creation” to be launched next year.  This programme, in coordination with EU Member States will leverage funds from the European Finance Institutions to create of a more conducive environment for domestic and international investments and foster job creation particularly among the youth.”