9 March 2016

Egypt On Right Path to Development - EU

Egypt is on the right path to development as the government is adopting several encouraging and successful policies, especially in the energy sector, head of the European Union Delegation to Egypt James Moran said on Wednesday 9/3/2016.

Speaking before the convention of a renewable energy conference organized by the European Union in Matrouh, Moran said the renewable energy sector is one of the largest receiving special attention from the EU.

The EU is directing one of its largest grant programs, more than one billion dollars, to support the renewable energy sector in Egypt, he said.

The biggest challenge, meanwhile, is how to attract private sector investments to this vital sector, he said, adding that Egypt's geographical location and atmosphere highly qualify it to be an important center for renewable energy production.

The EU has launched a promising project for the use of solar energy in governmental buildings in Matrouh, he said.

Despite the availability of natural gas in Egypt, the high population density necessitates new energy sources, he noted.

The EU backs Egypt's policies on the energy file, including a decision to lift fuel subsidy and turn to renewable energy, he said.

The EU is contributing to landmine clearing in Matrouh on an area covering 200,000 feddans, out of which 12,000 have been cleared as the three-year project started in 2014 under a four-million-euro grant.

A grant worth nine million euros is offered to an agricultural project to harvest rainwater in Matrouh, which is expected to benefit thousands of families, he said.



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