Following the adoption of Partnership Priorities with Egypt in July 2017, EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn is in Egypt discussing how these priorities will be implemented, with a particular focus on the EU’s many activities supporting Egypt’s economic stabilisation.

With the Egyptian Minister of Investment and International Cooperation Sahar Nasr he has signed a Memorandum of Understanding on the EU Single Support Framework for Egypt, which sets out the EU’s priorities for bilateral assistance to Egypt for the period 2017-2020, in line with the Partnership priorities. These cover economic modernisation, energy sustainability and environment; social development and protection, helping vulnerable groups enter the job market; and governance reforms.

In addition, Commissioner Hahn and Minister Sahar Nasr signed three new financing agreements for EU-funded projects which will boost socio-economic development in Egypt. These include EU support to strategic investment projects with €46 million in grants; leveraging almost €600 million in soft loans from European Financial Institutions in order to support improved sanitation services as well as the rehabilitation of Alexandria’s Raml Tram. A €60million grant will help Egypt deal with the pressures of hosting migrants and refugees, and help stabilise communities prone to migration.

Commissioner Hahn commented: “The EU is Egypt’s first trade partner and its largest source of investment. Where our interests coincide, we should work together: to build prosperity, and the conditions that can attract investment into the country. This is good for Egyptians and Europeans alike”.

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Press Release

The European Union Delegation to Egypt