EU to increase Egypt aid to €2.3 billion

The European Union is ready to increase its financial aid to Egypt to €2.3 billion (US$2.5 billion) from €1.1 billion, said James Moran, EU ambassador to Cairo.

On the sidelines of signing EU’s grant agreement with the Egyptian Ministry of Housing and Ministry of Education, Moran reiterates EU’s support for Egypt, notably to the health and education sectors.

EU will resume its negotiations with Egypt to support the state’s budget within 2016 after the new parliament would start its activities, Moran added.