CAIRO, 29th June, 2024 (WAM) -- The European Union and the Arab Republic of Egypt on Saturday signed an agreement that will see the EU invest up to €1 billion (US$1.1 billion) in Egypt as part of a strategic partnership, the German news agency DPA reported.
The deal was signed by EU Trade Commissioner Valdis Dombrovskis and Egyptian Minister of International Cooperation Rania al-Mashat at an
EU-Egypt investment conference in Cairo.
The €1 billion financing agreement is the first tranche of a larger €7.4 billion package that European Commission President Ursula von der Leyen announced in March.