Egypt submits 107 cooperation projects to EU

CAIRO – 19 October 2017: Secretary General of Federation of Egyptian Chambers of Commerce (FECC) Alaa Ezz said Thursday that Egypt submitted 107 projects out of an overall 300 ones submitted by 14 countries to EU-funded cooperation without borders program.

The program is funded by the EU with a sum of €480 million given to 14 countries on the coast of the Mediterranean sea to revive cooperation between business organisations and civil societies to develop trade, industry, environment, renewable energy and human resources fields, as well as boosting investments, Ezz explained.

Ezz made these remarks on the sidelines of the Egyptian-Portuguese forum, where six companies, half of which are from the north and the other from the south are participating.

The forum includes preparation of detailed study of projects to select the best ones regardless of the number of projects allocated to each country, he underlined.

The FECC secretary general pointed out that the Egyptian chambers of commerce received funds to finance 22 projects out of 81 ones during the past period, all of which were implemented except for five being currently carried out.

He expressed his hope for receiving funds for the largest number of projects in the coming period, adding that the announcement of projects which will receive funds from the EU program will take place in early January.