EU extends one billion euros to Egypt as non refundable grant
Egypt-European Union, Economics, 4/8/2005

"The European Union allocated one billion euros as a non-refundable grant to Egypt,"said EU ambassador in Cairo Klaus Ebermann on Wednesday, adding that there is a package of soft loans worth $ 1.5 billion from the European Investment Bank to modernize several economic sectors.

Ebermann made the statement at a conference organized by the Confederation of Egyptian-European Business Associations, now in session, with as many as 25 European ambassadors and heads of European investment corporations operating in Egypt attending.

Ebermann said that the EU was keen to extend all possible assistance to help revive the Egyptian economy.

"Egypt is a strategic partner of the EU and is part and parcel of the European good neighborliness policy," he said, noting that Egypt was playing a key regional role to help establish security and stability in the region.

Previous Stories:
  EU approves customs exemption on Egyptian agricultural commodities   (8/17/2004)
  Egypt's custom duties exemption for imports from EU   (2/21/2004)
  Investors' guide project officially launched in Egypt   (1/31/2004)

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