The EU and Egypt to foster sustainable economic development in the country

On the 20th December, the European Union and Egypt signed two European Union assistance programmes that would strengthen social safety nets and foster inclusiveness and sustainable economic development in the country.

This agreement launched the ‘EU Facility for Inclusive Growth and Job Creation', an instrument that would leverage some €420 million in support of reforms to improve the environment for business creation and to facilitate access to finance for Small and Medium-sized Enterprises (SMEs).
The programme would also be a key mechanism for the EU to support the implementation of Egypt's economic reform programme around which the International Monetary Fund approved a three-year funding under the Extended Fund Facility in November 2016.

• Primary Source

EU: EEAS: Speech, 20.12.16, Remarks by the High Representative/ Vice-President Federica Mogherini following the signature of the Financing Agreement with Ms Sahar Nasr, Minister of International Cooperation of Egypt https://eeas.europa.eu/headquarters/headquarters-homepage/17638/

EU: EEAS: Egypt and the EU https://eeas.europa.eu/headquarters/headquarters-homepage/1156/egypt-and-eu_en

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