Arabi: €200 million loan from EU

Planning and International Cooperation Minister Ashraf el-Arabi met with Head of EU Delegation in Cairo Ambassador James Moran, where they discussed cooperation between Egypt and the EU in various sectors. Egypt's relations with the EU are based on solid historic foundations, longstanding cooperation and a strategic partnership, added Arabi. The meeting tackled EU support to the Egyptian budget with a projected grant amounting to € 200 million in addition to a soft loan of € 500 million. According to Arabi, the government is currently studying the EU conditions for releasing the financial assistance to Egypt.