EU raises aid to Egypt up to €600 million

The European Union has raised the ceiling of aid offered to Egypt from 450 million to 600 million euros during ongoing negotiations on the aid budget for the coming three years.

Speaking to Al-Masry Al-Youm, Secretary General of the International Cooperation Ministry’s Egyptian-European partnership unit Gamal Bayoumi said the new aid will reach up to 600 million euros and could be increased to 660 million euros in the near future.

“The EU identified a period to disburse a cash lump sum for the first time in history of the aid, which was adopted within the Egyptian-European partnership agreement, signed in the nineties,” he added. Source: Al-Masry Al-Youm