EU gives Cairo annual donation of 1 billion euros

Alongside efforts to boost Egypt's green energy sector, the European Union is helping Cairo achieve ambitious goals through providing annual donations estimated at 1 billion euros, said Ambassador James Moran, head of the European Union delegation to Egypt.
In the conference entitled ‘Chances and Challenges of Energy in Egypt’, organized by the Italian Chamber of Commerce, Moran stressed that the European Union is a strong partner with Egypt and is helping Egypt lay out a strategy for its energy model.
Renewable energy used to be prohibitively costly and inaccessible, Moran said, but developments in technology will allow green energy to provide new chances in many fields and will create jobs.
Moran declared a main plan in Cairo over investments and technologies used in the energy field.
Meanwhile, Italian Ambassador to Cairo Maurizio Massari said the President Abdel Fattah al-Sisi’s recent visit to Rome revived the Egyptian-Italian council and boosted bilateral ties.
The goal behind the conference, according to Massari, was to acknowledge the demand and supply and create a good atmosphere for investing in Egypt.
Edited translation from Al-Masry Al-Youm

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