The European Union (EU) is to appropriate an approximate amount of € 110 mln to boost Egyptian projects in the sectors of energy, water, trade and local development within the upcoming period, as a part of the supporting program that the (EU) has adopted to support Egypt’s projects from 2017 till 2020.
The proposed amount of the (EU) fund is with a total of € 500 mln.
This step was announced during a meeting held on Monday, where the head of the EU Delegation in Egypt, Ambassador Ivan Surkoš met with a number of Egyptian ministers and top officials.
Minister of Investment and International Cooperation Sahar Nasr said that the (EU) is one of the most important global development partners, as it offers $ 500 mln under the umbrella of the financing strategy which is under work till 2020 to support Egypt’s projects in water and sanitation, civil society, vocational training, administrative reform, intra-trade, heritage as well as Public finance sectors.
“We set a priority for youth empowerment and human-building projects through the upcoming period in which implementions are made to meet President Abdel Fattah Al Sisi’s directives. In addition, we brace to hold an international conference in the Suez Canal in collaboration with the (EU) as a part of the joint cooperation between the two sides”, Nasr added.
On the other hand, the ministry of electricity and renewable energy announced, during the meeting, that the main reason behind cooperating with the (EU) is to increase reliance on the renewable energy as well as rising its share in Egypt’s energy total productive capacity. In addition, improving production and distribution efficiency beside establishing energy distribution control centers.
Meanwhile, the local development ministry unveiled that the EU will fund four projects in the local development section. These include projects qualifying all workers in the sector, exchanging experiences, improving information technology centers in governorates and improving the institutional structures of the Local Development Fund.
“We appreciate all efforts that the (EU) offers to support developmental projects in Egypt and we are looking forward to increasing the cooperation means with the (EU) through the coming period, especially in solid waste recycling, increasing the awareness of environmental conservation in schools and universities”, Egypt’s Minister of Local Development, Mahmoud Shaarawy stated.
At the same time, the Chairman of the Suez Canal Authority (SCA) Mohab Mamish said that the (SCA) is always supporting all efforts that are introduced by the (EU) through offering technical and financial means for the projects that the (SCA) benefits from.
“The collaboration with the (EU) focuses on boosting infrastructure projects and preparing an outline for a number of locations in the borders of the Suez Canal Economic Zone. We already cooperate with the (EU) to prepare an outline for the Technology Valley and to establish vertical industrial complexes for silicon-based industries”, Mamish added.
“Egypt and European countries are neighbors and friends, working together to achieve all aspirations of the Egyptians and Europeans alike. It is a big pleasure for the EU to be the biggest developmental partner to Egypt in line with Egypt’s vision for sustainable development”, head of the EU Delegation in Egypt, Ambassador Ivan Surkoš clarified.
He highlighted that the (EU) keeps watch on supporting the private sector in Egypt.