Relations between Egypt and Europe are booming, with strong international partnerships through the Team Europe Initiatives (TEI) and flexible financing that have injected approximately $12.8 billion into the country over of the last four years, according to the Minister of International Cooperation, Rania al-Mashat.
During his participation in the meeting of the EU-Egypt Association Council, which was held in Brussels, Mashat highlighted that 7.3 billion dollars of this amount was intended for the government sector, while 5.5 billion dollars were allocated to the private sector, which made it possible to attract investments from European companies in priority sectors.
This close cooperation with the European Union is an example of a constructive partnership spanning decades, based on meeting national priorities and responding in times of crisis.
These funds have been directed to priority sectors across the country, with a focus on sustainable infrastructure, renewable energy, food security, health and education, sustainable transport, water networks and sanitation, small and medium enterprises, environment, solid waste management, women’s empowerment and other programs.
The European Union, its member states, as well as affiliated financial institutions and multilateral development banks are among Egypt’s main partners in promoting the development and construction process, Mashat added.
She also highlighted that Egypt has been working closely with the European Investment Bank and the European Bank for Reconstruction and Development for many decades, and that this cooperation has contributed to the implementation of effective development projects.
This dynamic of cooperation between Egypt and Europe shows the commitment of both parties to strengthen their ties and promote sustainable development in the country. Collaboration with the EU and European financial institutions allows Egypt to access valuable financial resources and technical expertise to achieve its development goals.
This desire for cooperation and mutual support is essential to face current and future challenges and to build a better future for the Egyptian people. Through these partnerships, Egypt can strengthen its infrastructure, develop key sectors of its economy and improve the quality of life of its citizens.
In conclusion, relations between Egypt and Europe are experiencing positive dynamics thanks to Team Europe Initiatives and significant investments in key sectors. This strong cooperation demonstrates the commitment of both parties to work together for Egypt’s development and prosperity.