Cooperation portfolio bet. Egypt, EU hits €1.35B

CAIRO - 2 March 2023: Current cooperation portfolio between Egypt and the European Union amounts to about €1.35 billion in grants to support several sectors, according to the Minister of International Cooperation, Rania Al-Mashat.

 

Al-Mashat elaborated that the portfolio includes more than 37 projects in several sectors, including transport, water, agriculture, small and medium enterprises, sustainable energy, the environment, social protection, stability enhancement, governance, capacity building and civil society. 

 

This is in addition to Egypt benefiting from many European initiatives and regional cooperation programmes, the Minister added.

 

 

She confirmed, Sunday, that the strategic partnership between Egypt and the European Union extends for decades.

 

She stated that development cooperation has undergone a global transformation, as its role is not limited to financial support, but is related to effective partnerships that include governments, development partners, the private sector and civil society, who work together to achieve sustainable development.

 

“The Ministry has developed a strategy based on strengthening economic diplomacy and supporting multilateral cooperation based on partnerships and in line with national priorities, through three main principles: the platform for joint coordination cooperation, the strategy for listing international participation, and matching development financing with the goals of sustainable development,” she added.

 

She stressed that these three principles support the state's efforts to rebuild better and achieve a flexible recovery from the Corona pandemic, by strengthening development partnerships, effective communication with multilateral and bilateral development partners, and telling Egyptian development stories in international forums.