Egypt, EU sign USD-155-mln deals to provide jobs, fight immigration

CAIRO, – Egypt and the European Union (EU) signed on Thursday two cooperative agreements valued at a total 135 million euro (about USD 155.5 million).

The two deals are mainly intended to provide job opportunities and to battle illegal immigration.

They were signed by Egyptian Minister of Investment and International Cooperation Sahar Nasr, and Director-General for EU Neighborhood Policy and Enlargement Christian Danielsson.

The first agreement worth 75 million euro (USD 86.4 million) aims at promoting small and medium-sized enterprises, entrepreneurship and innovation, the Egyptian minister said.

The second deal valued at 60 million euro (USD 69.1 million) is meant to fight illegal immigration, smuggling and human trafficking by launching seven projects in 15 governorates in Egypt, she added.

On his part, the EU official said the European bloc is Egypt’s key development partner, estimating its aid to development projects in this Arab country at a total 1.3 billion euro (USD 1.4 billion).

He stressed that it is necessary for both sides to work together in order to promote mutual investments.

Source: Kuwait News Agency