The European Commission approved the action plan for cooperation with Egypt, increasing its allocation of a €152 million grant, reported Al-Ahram newspaper.
Fayza Abol Naga, minister of international cooperation, said that the plan includes an amount of €70 million to be allocated to water reform projects; €20 million for research and development; €20 million to wind power generation; €20 million to fund an existing partnership with the EU; €10 million to modernize the administration of justice, €3 million to preserve cultural heritage and €9 million to support the decentralization of local administration.
These amounts are part of a €558 million grant program that is extended to the government of Egypt over a four-year period, Beltone Financial said in its daily market report.
