EU considers expanding economic cooperation with Egypt

CAIRO – 30 October 2017: The European Union is looking forward to expanding areas of economic cooperation with Egypt, Commissioner for Neighborhood Policy and Enlargement Negotiations of the European Commission Johannes Hahn said Monday.

In a joint press conference with Minister of Foreign Affairs Sameh Shoukry, Hahn said that the EU will increase its efforts to support the small and medium enterprises (SMEs) sector in Egypt.

EU assistance to Egypt currently stands at more than €1.3 billion ($73.6 million) in the form of ongoing grants commitments. The amount of grants, loans and debt swaps from member states and European financial institutions amasses to a total of €11 billion, marking the EU as the biggest donor to Egypt.

The new EU-Egypt Single Support Framework 2017-2020 sets out the EU's priorities for bilateral assistance to Egypt under the European Neighborhood Instrument for the period 2017-2020. It spans between €432-528 million for Egypt.