Egypt, EU Agree on €90 mln Grant

Egypt’s Deputy Prime Minister and Minister of International Cooperation Ziad Baha El-Din and Catherine Ashton, the European Union High Representative for Foreign Affairs and Security Policy, signed a financing agreement for the country’s comprehensive development and reform programme, under which the EU will send 90 million euros to Egypt in the form of grants.

During his visit to Brussels on November 26-27, Baha El-Din held talks with officials from the European Union over the government’s efforts to implement an economic development and social justice programme during the transitional period.

In a meeting with Ashton, Dr. Baha El-Din stressed that Egypt is committed to implementing the road map. He also reviewed the main elements of the government’s economic development and social justice programme, including an increase in investment spending and lowering the budget deficit.

For her part, Ashton reiterated EU’s support for Egypt in implementing its economic programme.