James Moran: Egypt-IMF Loan Deal to Unlock EU’s Further Aid

Ambassador James Moran – Head of Delegation of the European Union to Egypt – said the EU’s upcoming aid package to Egypt depends on obtaining the International Monetary Fund loan, which would certify global trust in the Egyptian economy.

Moran was delivering a keynote speech in a press conference held on Thursday regarding  a € 20 million aid package granted by the EU in cooperation with the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit -GIZ).

During the press conference, Moran stressed on the importance of achieving democratic transition, political and security stability in Egypt to reap the fruits of global organizations’ development programs in the North African country.