With Investments of 110 Million Euros, Egypt and the European Union Agree on Projects for 2020

With Investments of 110 Million Euros, Egypt and the European Union Agree on Projects for 2020

July 22, 2019
Admiral Mohab Mameesh, Chairman of the Suez Canal Authority and Head of the Economic Zone, and the Ministers of Electricity and Renewable Energy, Investment and International Cooperation, Local Development and Environment held a meeting with Ambassador Ivan Sorcous, the EU Ambassador in Cairo. Representatives of the Ministries of Investment and International Cooperation, Housing, Utilities and Urban Communities, Petroleum and Mineral Wealth, Irrigation and Water Resources, Planning, Follow-up and Administrative Reform, Agriculture and Land Reclamation, Trade, Industry, Local Development and Economic Zone of the Suez Canal were present to discuss future projects between Egypt and the European Union (EU) for the year 2020.

During the meeting, the participants discussed future projects in the sectors of energy resources, water, trade and local development. The EU is expected to support such projects with investments of nearly 110 million euros under an integrated and unified support of approximately 500 million euros from 2017 to 2020.

The Minister of Electricity and Renewable Energy said that the cooperation with the EU mainly aims at increasing the dependence on the renewable energy and increasing the rate of its use within the total energy produced in Egypt. Egypt also aims at improving production efficiency and distribution as well as establishing control centers for distribution. Such projects are important, especially after Egypt has taken great strides to ensure electricity supply for all residential, industrial and service uses.

The Minister of Investment and International Development said that the EU is one of the most important international development partners. It provides financing of a half million dollars within its current financing strategy until 2020. This includes the sectors of water, sewage, civil societies and vocational, industrial and service uses. The Minister added that the meeting witnessed the discussion of the most important opportunities and challenges concerning the cooperation with the EU. She explained that this meeting witnessed the attendance of eleven representatives of Egyptian ministries willing to cooperate with the EU to obtain an integrated economic development.

She also assured that the program, which the EU supports, is an Egyptian program and the proposed projects are Egyptian ones. She added that providing projects for the youth and for building the Egyptian citizen is a priority in accordance with President Al-Sisi’s instructions.

The Minister declared that an international conference would be held in the Suez Canal, in cooperation with the EU. She explained that the target is the sector of renewable energy resources. They also mean to facilitate procedures to pump more investments in Egypt in addition to providing support for the local development program. In addition, there should be more support for the projects in the governorates, the cooperation with the Ministry of Environment and the financial and administrative reform program in Egypt.

As for the Minister of the Local Development, he expressed his appreciation for the fruitful cooperation between the Ministry and the EU in Cairo. He referred to the Ministry’s appreciation for the development projects, particularly the local administration development, carried out between the two sides.

Moreover, the Minister announced that the two sides reached an agreement concerning four projects between Egypt and the EU. The projects are related to the local development including the governorates. The aim is to qualify human cadres and employees of local units. They also mean to dispatch missions, exchange experiences, modernize the information technology centers in the governorates, improve the local development centers for training in Saqqara, develop the institutional structures of the Local Development Fund, enable female leaders to work in the governorates and improve women’s working conditions. Al-Sharawy expressed his hope to increase the cooperation with the EU during the coming period in the field of solid wastes and preparation of contracts under the new system. Cooperation also includes water, housing and new energy sectors to rationalize electricity and water consumptions in all governorates, centers, villages and local units.

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