Egypt negotiating €257 million aid from EU: minister

Egypt is negotiating a €257 million aid from the European Union to finance urgent developing projects in the country, said minister of international cooperation Sahar Nasr.

Egypt will sign the final agreement on a US$1 billion loan from the World Bank on December 19th, to help ease a foreign currency shortage.

The country will also sign the final agreement on a US$500 million loan from the African Development Bank on December 15th, to finance the urgent developing projects.

Meanwhile, Nasr also referred to the ministry’s ongoing negotiations with China to obtain support for the government’s plan to upgrade waste water and sanitation system.