Brussels – European Fee President Ursula von der Leyen introduced on Saturday that European firms signed greater than 20 new agreements value a complete of greater than 40 billion euros on the Egypt-Europe Funding Convention.
“Solely 100 days have handed for the reason that starting of a brand new period of friendship between Egypt and the European Union, and we’ve got begun to reap the fruits of this shut relationship,” von der Leyen mentioned in a speech on the opening of the convention held in Egypt.
She added that “Europe is Egypt’s largest buying and selling companion and investor, and European investments represent about 40 p.c of overseas direct investments in Egypt.”
She identified that the European Union pledged three months in the past to supply extra monetary assist to Egypt, extra funding in strategic sectors and enhance staff’ expertise.
“In March, we introduced a big financing and funding package deal for Egypt value 7.4 billion euros,” she added.
“At present we’re signing the primary billion euros in monetary assist, and this package deal will assist the reform agenda that the personal sector in Egypt wants,” she added.
She pressured the European Union’s dedication to growing strategic investments in Egypt, including: “We purpose to activate new European investments value 1.8 billion euros.”
Von der Leyen revealed that European firms signed greater than 20 new agreements or memoranda of understanding with their Egyptian companions in the course of the convention, value greater than 40 billion euros.
Anatolia
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2024-07-02 03:07:30