EU to grant Egypt €500 bn in aid

EU to grant Egypt €500 bn in aid

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Sat, 25/01/2014 - 14:11
The European Union has agreed to provide the Egyptian government with nearly 500 million Euros in financial aid in one lump sum, instead of dividing them into smaller packages.
 
Gamal Bayoumy, who heads the Egyptian-European partnership unit at the Ministry of Planning and International Cooperation, told Al-Masry Al-Youm that Deputy Prime Minister Ziad Bahaa Eddin is leading negotiations for the aid expected from the EU, and that both sides are determining areas of cooperation in light of the package.
 
Bayoumy said that Bahaa Eddin had discussed areas where the aid should be spent with Planning Minister Ashraf al-Araby. Those include education, roads, energy and environment. He added that those areas had been proposed by the Egyptian, rather than the European, side.
 
If approved, Bayoumy noted, the interim presidency should issue a decree approving the new mechanism for delivering the aid.
 
 
Edited translation from Al-Masry Al-Youm