Egypt's Planning Ministry announces 4 billion euros in budget support from EU
Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat announced that efforts are in place alongside the European Union (EU) to implement a macroeconomic support mechanism and support the state's budget deficit with a value of four billion euros.
She affirmed the Egyptian government's appreciation for the economic partnership with the EU and the upgrade of relations to a strategic partnership.
Mashat added that these efforts constitute vital support for the state's efforts to implement the ongoing structural reform program.
During her meeting with the European Commissioner for International Partnerships, Joseph Sikela, Mashat discussed strengthening the strategic partnership between Egypt and the European Union.
She highlighted sustainable development priorities, green transformation efforts, cooperation within the the 'Team Europe' initiative, and support for the NWFE program.
Mashat added that technical discussions with the European side are ongoing in preparation for the upcoming assessment mission, ensuring consensus on reform priorities and enhancing the development impact of financing.
The meeting also addressed the private sector investment guarantee mechanism and efforts to activate it to mobilize more European investments into the local market.
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