European union grants egypt 20 million euros

The European union has decided to grant Egypt 20 million euros as part of the Euro-Mediterranean cooperation program (meda-2) to promote commerce and exports and attract foreign investments. A source at the program told reporters the grant would support the Egyptian private sector and increase its capacities to boost exports and attract investments.

A partnership agreement recently signed between Egypt and the EU stipulates financial aid to Cairo to promote the Egyptian economy's competitiveness in this transition period that precedes trade liberalization.