8 June 2018

Egypt: Germany Reiterates Support to Egypt's Economic Reforms

Friday 08 June 2018 - 11:37 AM

German Ambassador to Egypt Julius Georg Luy reiterated Thursday Berlin's support to the ambitious economic reforms the Egyptian government has recently put in place.

After his meeting with Investment and International Cooperation Minister Sahar Nasr, where they agreed on and exchanged diplomatic memos on the development cooperation works, Luy said Berlin supported the Egyptian reforms not just as key member at the World Bank and IMF, but also through aid amounted to 225 million Euros, introduced to Cairo earlier this year.

He thanked Nasr for her cooperation and support to the development works in Egypt, which would serve its economic reforms.

A statement released by the German Embassy in Cairo said the Egyptian-German agreement stipulates organizing the works of German cooperation agencies which are conducing development projects in Egypt. The statement said the value of such projects exceeds euros 1.6 billion in the form of grants and loans.

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