{"id":613999,"date":"2024-01-24T00:00:00","date_gmt":"2024-01-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/24\/eu-egypt-association-council-ends-with-eur-3-2-bn-pledge-of-additional-financing\/"},"modified":"2024-01-24T00:00:00","modified_gmt":"2024-01-24T00:00:00","slug":"eu-egypt-association-council-ends-with-eur-3-2-bn-pledge-of-additional-financing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/24\/eu-egypt-association-council-ends-with-eur-3-2-bn-pledge-of-additional-financing\/","title":{"rendered":"EU-Egypt Association Council ends with EUR 3.2 bn pledge of additional financing"},"content":{"rendered":"

EU welcomes in \u201cgolden age of EU-Egypt relations\u201d with EUR 9 bn of investments<\/strong> pledge: <\/strong>Following the meeting of the EU-Egypt Association Council, EU Commissioner Oliv\u00e9r V\u00e1rhelyi told the press that their Economic and Investment Plan will mobilize EUR 9 bn to invest in \u201cgrowth and jobs in Egypt in areas that are the most critical, food, water, energy for any sustainable economy,\u201d according to a <\/span>statement<\/a> from the EU.<\/span><\/p>\n

The caveat: <\/strong>Out of the EUR 9 bn, \u201cwe have already mobilized EUR 5.8 bn in investments in Egypt,\u201d V\u00e1rhelyi said. It is also unclear how much of the remaining EUR 3.2 bn is part of a concrete pledge from the EU and its associated bodies or an investment target from private EU sector companies.<\/p>\n

D\u00e9j\u00e0 vu? <\/strong>We heard rumors back in November that EU could be putting together a plan to mobilize as much as EUR 9 bn of investment<\/a> alongside debt relief measures to help stabilize the economy and curb migration across the Mediterranean<\/p>\n

No new money for taking in refugees? <\/strong>V\u00e1rhelyi praised \u201cthe very hard work Egypt has been doing relentlessly\u201d by hosting large refugee and migrant communities \u2014 totaling 9 mn people \u2014 and pledged \u201cto increase our support\u201d. The EU commissioner pointed to investments in border protection and search and rescue vessels, but no made no mention of fresh funds on the table in exchange for hosting refugees and preventing irregular migration across the Mediterranean, as had previously been rumored to be the case.<\/p>\n

The EU is keeping Egypt on side as the war in Gaza presses on:<\/strong> EU officials are keen to step up bilateral ties with Egypt amid Egypt\u2019s mediatory role in the war on Gaza and its efforts to deliver humanitarian aid, European Parliament member David McAllister said yesterday morning, according to a Foreign Ministry statement<\/a>. The EU shares Egypt\u2019s concern for the \u201cdisastrous humanitarian situation in Gaza\u201d and the two called for the protection of civilians, the immediate and unconditional delivery of aid and \u201caffirmed their strong rejection of any form of individual or collective displacement,\u201d said a joint statement<\/a> following the meeting.<\/p>\n

GERD lip service: <\/strong>\u201cRecognizing Egypt\u2019s heavy reliance on the Nile River in a context of its water scarcity, the EU reiterates its support to Egypt\u2019s water security and the compliance with international law,\u201d the joint statement said, adding that the \u201cdo no harm\u2019 principle serves as a guiding principle in the European Green Deal.\u201d<\/p>\n

Pep talk: <\/strong>\u201cAnd I want to reassure Minister Shoukry that we are here for the long haul. We're here to establish this partnership on solid foundations and to accompany Egypt in its biggest challenges, because we also need Egypt to be on our side in our biggest challenges,\u201d V\u00e1rhelyi said at the end of his joint press conference with Shoukry.<\/p>\n

DATA POINT-<\/strong> Egypt-EU partnerships under the Team Europe Initiatives have channeled USD 12.8 bn into Egypt\u2019s public and private sectors in the last four years, International Cooperation Minister Rania Al Mashat said in a statement<\/a> yesterday. <\/p>\n

What\u2019s next: <\/strong>The EU was keen<\/a> to hype up its International Investment Conference in Egypt coming up in May to \u201cfurther deepen Egypt-EU business exchanges in order to enhance the overall business environment and to encourage European public and private investments to benefit from the available investment potentials in Egypt.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

EU Commissioner Oliv\u00e9r V\u00e1rhelyi said we have begun a \u201cgolden age of EU-Egypt relations\u201d<\/p>\n","protected":false},"author":1,"featured_media":614000,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7262],"tags":[168,6825,72,301],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-613999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-diplomacy","tag-egypt-eu-relations","tag-enterpriseam","tag-sameh-shoukry","wpautop","entry"],"acf":{"mongo_id":"3829007f-fd17-467f-a426-049bee528e90","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2037.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[613989],"teaser":"EU Commissioner Oliv\u00e9r V\u00e1rhelyi said we have begun a \u201cgolden age of EU-Egypt relations\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.7c7dd680-8fc0-49bf-9381-32444f18767c.mp3"},"yoast_head":"\nEU-Egypt Association Council ends with EUR 3.2 bn pledge of additional financing - 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It\u2019s the last few hours of the week before we (happily) jump headfirst into the first long weekend of the year. **EnterprisePM will be off tomorrow in observance of Police Day and the 25 January revolution. EnterpriseAM Egypt will also be off, and will be back\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1524.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661719,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/planning-minister-eu-mediterranean-commissioner-discuss-strategic-partnership-economic-ties\/","url_meta":{"origin":613999,"position":1},"title":"Planning Minister, EU Mediterranean Commissioner discuss strategic partnership, economic ties","author":"enterpriseam admin","date":"4 March 2025","format":false,"excerpt":"The meeting discussed implementing the second phase of the EU\u2019s macro-financial and budget support program","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/229.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556407,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/egypt-could-get-eur-1-bn-for-development-from-eu-by-2027\/","url_meta":{"origin":613999,"position":2},"title":"Egypt could get EUR 1 bn for development from EU by 2027","author":"enterpriseam admin","date":"25 October 2021","format":false,"excerpt":"Egypt could receive up to EUR 1 bn from the EU over the next six years to help drive \u201clong-term socio-economic development and recovery,\u201d EU Commissioner for Neighborhood and Enlargement Oliver Varhelyi said yesterday at Cairo Water Week, according to prepared remarks (pdf). The plan, which comes as part of\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661637,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/03\/egypt-secures-eur-90-mn-loan-from-the-eu-eib-to-boost-food-resilience\/","url_meta":{"origin":613999,"position":3},"title":"Egypt secures EUR 90 mn loan from the EU, EIB to boost food resilience","author":"enterpriseam admin","date":"3 March 2025","format":false,"excerpt":"This came during Commissioner for the Mediterranean, Dubravka \u0160uica\u2019s time in Egypt","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/147.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546268,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/10\/were-getting-eur-138-mn-in-eu-development-grants\/","url_meta":{"origin":613999,"position":4},"title":"We\u2019re getting EUR 138 mn in EU development grants","author":"enterpriseam admin","date":"10 May 2022","format":false,"excerpt":"The EU and the International Cooperation Ministry yesterday signed development financing grants worth a total of EUR 138 mn that will fund healthcare projects, administrative reform, and environmental, rural, and community development initiatives, according to a cabinet statement. The funding comes within the framework of the EU-Egypt Partnership Priorities for\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618463,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/15\/eu-approves-eur-1-bn-in-short-term-assistance-to-egypt\/","url_meta":{"origin":613999,"position":5},"title":"EU approves EUR 1 bn in short-term assistance to Egypt","author":"enterpriseam admin","date":"15 April 2024","format":false,"excerpt":"The funds are part of a larger EUR 7.4 bn aid package agreed on in March","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/794.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=613999"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/613999\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/613989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614000"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=613999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=613999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=613999"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=613999"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=613999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}