{"id":96327,"date":"2024-03-18T14:41:29","date_gmt":"2024-03-18T12:41:29","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=96327"},"modified":"2024-03-18T14:41:31","modified_gmt":"2024-03-18T12:41:31","slug":"eu-allocates-e135-m-for-egypts-food-resilience-renewable-energy-under-e7-4-bn-support-package","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/eu-allocates-e135-m-for-egypts-food-resilience-renewable-energy-under-e7-4-bn-support-package\/","title":{"rendered":"EU allocates \u20ac135 m for Egypt\u2019s food resilience, renewable energy under \u20ac7.4 bn support package"},"content":{"rendered":"\n

<\/p>\n\n\n\n

The European Union<\/a> announced allocating \u20ac135 million for food resilience and boosting renewable energy as part of a \u20ac7.4 billion financial and investment support package for Egypt for 2024-202 within the framework of their strategic and comprehensive partnership.<\/p>\n\n\n\n

President Abdel Fattah El Sisi and President of the European Commission Ursula von der Leyen signed the joint political declaration document to elevate relations between Egypt and the European Union to the level of strategic and comprehensive partnership.<\/a><\/p>\n\n\n\n

The financial package includes \u20ac600 million in grants, including \u20ac200 million for migration management \u20ac5 billion in concessional loans (macro-financial assistance) \u20ac1.8 billion of additional investments, under the Southern Neighborhood Economic and Investment Plan.<\/p>\n\n\n\n

Projects under the Southern Neighborhood Economic and Investment Plan Energy transition and energy security Support the Nexus Water, Food and Energy Initiative, as part of Egypt\u2019s climate strategy.<\/p>\n\n\n\n

Through \u20ac35 million in grants, the EU will support Egypt\u2019s objective of installing additional renewable energy capacities and improving energy efficiency of electricity generation.<\/p>\n\n\n\n

The EU will also support the regional MEDUSA Submarine optical fiber cable of 7,100 km connecting North African countries and the two shores of the Mediterranean to manage growing volumes of data and improve connectivity.<\/p>\n\n\n\n

As for food security, the EU will also help mitigate the impact of Russia\u2019s war in Ukraine on food security in the southern Neighborhood, the European Commission created a \u201cFood and Resilience Facility\u201d, with \u20ac100 million for Egypt to expand grain storage capacity and production.<\/p>\n\n\n\n

The EU will also improve wastewater infrastructure and services in Egypt and to reduce pollution and improve public health, especially expansion and upgrade of the Helwan Wastewater Treatment Plant in the Greater Cairo Area as well as improving wastewater infrastructure and access to sanitation services in the Fayoum Governorate in Egypt.<\/p>\n\n\n\n

The financial package will support Egypt\u2019s macro- and socio-economic reforms, including with macro-financial assistance, alongside international partners.<\/p>\n\n\n\n

The EU also invests in interconnections between the two shores of the Mediterranean (GREGY project) and in Egypt\u2019s renewable hydrogen industry.<\/p>\n\n\n\n

It will provide support to attract private investments, mobilize investments to modernize the economy, including the green and digital transition, especially under the Southern Neighborhood Economic and Investment Plan.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Union announced allocating \u20ac135 million for food resilience and boosting renewable energy as part of a \u20ac7.4 billion financial and investment support package for Egypt for 2024-202 within the framework of their strategic and comprehensive partnership. President Abdel Fattah El Sisi and President of the European Commission Ursula von der Leyen signed the […]<\/p>\n","protected":false},"author":410,"featured_media":96328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984,13332],"tags":[],"yoast_head":"\nEU allocates \u20ac135 m for Egypt\u2019s food resilience, renewable energy under \u20ac7.4 bn support package - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The European Union announced allocating \u20ac135 million for food resilience and boosting renewable energy as part of a \u20ac7.4 billion financial and investment support package for Egypt for 2024-202\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/eu-allocates-e135-m-for-egypts-food-resilience-renewable-energy-under-e7-4-bn-support-package\/\" 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