Egypt, Italy Sign an Agreement on Green Trade Project

Planning and International Cooperation Minister Fayza Abul-Naga and Industry and Foreign Trade Minister Dr. Mahmoud Eissa signed with Italian ambassador in Cairo Claudio Pacifico and UNIDO Program Coordinator Giovanna Ceglie an agreement on the green trade project which is financed by an Italian grant of EGP 55 million.

This project is part of the second category of Italy debt exchange program which is supervised by the International Cooperation Ministry to support the competitive situation of Egypt's agricultural products on the markets of the European Union.

This will contribute to boosting Egyptian exports to Europe. The third category of the debt exchange which is put at USD 100 million is to be signed during the few coming weeks. This would put an end to Egypt's government debt to the Italian government. The sum will be used by Egypt for financing projects of food security, education, agriculture and environment.