News Karnataka
Sunday, January 29 2023
Africa

EU allocates $104mn to finance Egypt’s food supply

Photo Credit : IANS

Cairo:  Visiting President of the European Commission Ursula von der Leyen announced that the EU has allocated 100 million euros ($104 million) in “an immediate relief” to Egypt’s food crisis.

In a joint televised press conference here with Egyptian President Abdel-Fattah al-Sisi, Von der Leyen said “we stand beside Egypt in this crisis”, in reference to the global grain shortage that resulted from the Russia-Ukraine war, reports Xinhua news agency.

The pledged amount to Egypt is part of a $3.13 billions allocated by the EU to the region for agriculture and irrigation programs.

She also emphasized the importance of expanding the cooperation with Egypt in the field of energy, adding that Egypt could be a model for clean energy and she supports “Egypt transferring into a regional hub for energy trade”.

“We also agreed to cooperate in the field of technical and financial support and investments to develop the infrastructure for the production of green hydrogen as a source of clean energy,” the Egyptian President said.

Earlier on Wednesday, Von der Leyen witnessed the ceremony of signing a framework agreement between the EU, Egypt and Israel to export Israeli gas to Europe via Egypt.

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