Europe pledges aid to Egypt by $ 645 million

Posted on September 15, 2012


Thursday, November 26, 1433 – September 13, 2012
Arab News
European Commission President Jose Manuel Barroso said Thursday that the European Union pledged financial aid to Egypt worth 500 million euros (645 million dollars), in addition to between 150 and 200 million euros to support the economic recovery.

Barroso said the EU will provide economic aid provided Egypt reached an agreement with the International Monetary Fund, according to the “Reuters”.

Barroso said to reporters at a joint press conference with visiting Egyptian President Mohamed Morsi, we are ready to provide financial assistance worth 500 million euros, subject to reaching an agreement which Egypt is negotiating now with the IMF.

In addition, the EU is also ready to discuss the process of budget support in the range between 150 and 200 million euros to support the agreed plan to revive the economy.

The President Mursi visits Brussels in the first visit to Europe since his election in June / June.

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