EU offers 250 million euros to modernize Egypt's industry

Ambassador of the European Union in Cairo Ian Boag said the EU had allocated 250 million euro to modernize the Egyptian industry. "It is the largest program the EU finances," he added.

In exclusive statements to Al Akhbar newspaper, the ambassador praised the Egyptian-EU partnership agreement that boosts trade exchange and joint investments.

On the other hand, exeucitve director of Egypt's modernization industries center Sarwat Adam said this center is responsible for carrying out this program started on November 11,2000.