$700 million from European Union to Egypt in the coming year

A report for the economic sector in the Egyptian Ministry of Agriculture stated that the European Union agreed to grant Egypt $700 million as loans, donations and facilities during the beginning of the coming year.

The union agreed to grant $120 million to develop human resources in addition to $50 million to modernize Egyptian industry topped by the agricultural products industry.

To present, the EU has given Egypt donations of $800 million, among which was $120 million for modernizing education, $155 million to support the social fund for developments, and $70 million to modernize private sector companies.

The report stated that the European Union is Egypt's main commercial partner as its exports form 42% of the volume of Egyptian imports.