EU to ink €120 million Pacts at Egypt Economic Summit

The European Union (EU) is planning to sign new grant agreements for gas, education and rural development sectors worth €120 million (US$163.6 million) at Egypt’s economic summit scheduled for mid March in Sharm el-Sheikh, EU’s Ambassador in Cairo James Moran revealed.

EU will hold tomorrow a meeting with all EU’s ambassadors with the aim of coordinating the Union’s efforts so as to maximize their partnerships in the economic conference.

These grants will integrate with soft loans which submitted by European Investment bank (EIB), alongside what will  provided by EIB and European Bank for Reconstruction and Development (EBRD) to the sectors.