GERMANY PLEDGES 500 MILLION USD IN SUPPORT OF EGYPT’S ECONOMY

CAIRO, Egypt, Germany will provide Egypt with 250 million U.S. dollars, in support of its economic programme, in addition to another 250 million dollars, said Gernan’s Ministry of Investment and International Cooperation, in a statement.

“The German step meant to give a push to Egypt’s micro-, small- and medium-sized enterprises, and to support the Egyptian workforce, with more training,” Minister of Investment and International Cooperation, Sahar Nasr said, at the meeting of the Egyptian-German Business Forum, which was held, late Thursday.

During the meeting, Nasr told German businessmen that, the government is keen on improving the investment climate in Egypt, and overcoming all obstacles facing foreign investors.

She expressed hope that Germany’s ranking, which currently occupies the 20th position, on the list of countries investing in Egypt, would go up in the coming period.

German Chancellor, Angela Merkel, on Thursday, asserted here that, Egypt is a key economic partner to Germany and voiced keenness of the German companies, to increase investments in Egypt.

Source: NAM NEWS NETWORK