Egypt, Italy Sign Cooperation Agreements

Egypt and Italy signed on 10/05/2012 three cooperation agreements worth 92 million euros that aim at supporting Egypt's development projects. The agreements were signed by Minister of Planning and International Cooperation Fayza Abul-Naga and Italian Ambassador Claudio Pacifico.

The agreements include one on allocating 13 million euros to finance small- and medium-scale enterprises in Egypt. The second deal aims to provide two million Euros in food aid to Egypt in cooperation with the World Food Program. The third agreement is part of the third phase of the Italian debt exchange program at a value of 77 million euros.