– Right now, Egypt and Europe are nearer than ever, so that is actually a win-win cooperation for Egypt and likewise for the EU, stated the EU chief when she spoke at an funding convention in Cairo on Saturday.
The settlement to take a position 1 billion euros – equal to 11.5 billion kroner – is a part of an funding bundle of seven.4 billion euros, which von der Leyen introduced in March.
The cash might be used, amongst different issues, for the event of fresh power, business and meals security, in line with the European Fee.
Imagine in reforms
Von der Leyen believes that the cash will even be a driving drive for financial reforms in Egypt.
– These reforms will create a greater local weather for enterprise and entice extra funding and create extra good jobs in Egypt, she stated.
On the convention, European corporations signed over 20 main contracts price over 40 billion euros, in line with von der Leyen. This corresponds to virtually NOK 460 billion.
Coup d’état
Egypt is at present dominated by the authoritarian chief Abdel Fattah al-Sisi. He got here to energy after mass demonstrations and a navy coup in 2013. Two years earlier, the Arab Spring had led to the nation’s first democratic elections, which have been received by the Muslim Brotherhood.
Sisi has cracked down onerous on all opposition, and when he received the presidential election final 12 months, he had no actual opponents.
Egypt is likely one of the US and Europe’s most necessary allies in North Africa and the Center East.
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2024-06-30 00:13:23