European Union partnered with Egypt for better North African nation relationship
European Union: The EU and Egypt had partnered with each other for a better North African nation relationship while unveiling a funding package to support Egypt’s decreasing economy at Cairo. This cooperation will include renewable energy, trade, security, and managing migration flows between nations.
European Union
European Union partnered with Egypt
European Union has unveiled a budget of €7.4 Billion in Loans, Investments and Grants for Egypt for the next three years. This fund will include €5 billion in concessional loans, €1.8 billion in investments & €600 million in grants in close coordination with the International Monetary Fund (IMF). As per the report, Egypt remains the second biggest recipient of EU FDI in the Middle East and North Africa region, where the EU had established a free-trade area (FTA) between the EU and Egypt by removing tariffs on their industrial products which will account to 25% of the country’s total trade of between them.
With whom does the European Union partner for €7.4 Billion?
European Union partnered with Egypt for €7.4 Billion
