Egypt has asked the European Union for a EUR 1.5 bn loan and EUR 100 mn grant to support projects in the energy and oil sectors, the EU’s Director for Neighbourhood South, Michael Köhler told the press in Cairo last week, Al Mal reports. The Egyptian government has presented the EU with a list of projects it intends to complete, which is currently under study. The EU will provide the financing through different European institutions such as the French Development Agency and European Investment Bank, Köhler said. His statements came during a meeting with Investment Minister Sahar Nasr last week where they signed an agreement for a EUR 27 mn grant to support the government’s social housing strategy.

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