Finland meets Egypt

Companies of Finland visiting Cairo on 27th of September

The Federation of Egyptian Chambers of Commerce is hosting a Finnish delegation, which is led by Minister for Foreign Trade and Development Kai Mykkänen.

MedCOP Climate 2016 : Mediterranean Climate Conference in Tangier

In the framework of MedCOP Climate 2016, which will take place on 18-19 July in Tangier, Morocco, ASCAME will jointly organize with its Commissions of Renewable Energies, Environment and Climate Change and Business Cooperation, the workshop nº8 “Supporting the Massive Development of Green Economy in the Mediterranean” on July 19th, from 09h00 to 12h00.

Cagliari | Euro-Mediterranean Cooperation Summer School 2016

Under the topic “Design your MED Initiative” the second Euro-Mediterranean Cooperation Summer School 2016 will be held in Cagliari, Italy from the 27th June to the 1st July 2016. The event is organized by OpenMed Association and MaPE – University of Cagliari, with the support of ASCAME, CCIA-BML, CEEBA and Re.C.O.Med, and the contribution of Fondazione di Sardegna.

REGISTER NOW: EU Funded Solar PV Training Course, Alexandria

In the framework of FOSTEr in MED project; part of the EU funded ENPI CBC MED Programme which aims to promote the adoption of innovative solar photovoltaic technologies in the Mediterranean, we would like to announce the opening of Solar PV specific training courses addressed to university students.

Promotion of the Mediterranean Corridor and a Euro-Mediterranean Rail Network

With the aim to enhance the economic advantages between Europe and the Mediterranean, the coordinator of the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), Anwar Zibaoui and Joan Amorós, coordinator of Promotion du Grand Axe Ferroviaire de marchandises Scandinavie-Rhin-Rhône-Méditerranée Occidentale (FERRMED) met on the 30th of March 2016 in Barcelona in order to discuss the common goals and working areas they have.

Consumer Protection Agency Website funded by the EU

Along with the celebrations of the World Consumer’s Right Day the new Consumer Protection Agency Website was launched, funded by the EU. The new website is designed to be more user-friendly and its concept lets complains and tracking of certain goods become easy.

Waste Water Project to be continued with the help of the EU

As part of the Water Support Reform Programme- Phases I and II, the EU Water Talks were held and attended by around 150 experts, officials and academics to discuss different water projects within the country. The event was funded with 200 million Euros by the EU.

Launch of the Trade and Domestic Market Enhancement Programme

On 11th February 2016 the EU officially launched the Trade and Domestic Market Enhancement Programme funded with 20 million Euros in order to support the competitiveness, job creation and other targets set in the Sustainable Development Strategy 2030. The Sustainable Development Strategy 2030 was drafted by the Egyptian Government, including the boost of the international trading position, the industrial development, as well as developing SMEs in order to create jobs and minimizing the economic differences.

EBRD and Bank Audi strengthen small business in Egypt

The European Bank for Reconstruction and Development (EBRD) gave a loan of US$ 30 million to Bank Audi SAE Egypt to be lent to Small and Medium-sized enterprises (SMEs) in Egypt.

EIB promotes public transport in Egypt with EUR 200 million loan for Cairo Metro

The European Investment Bank and the Egyptian government have now signed the second of three 200 million Euros loans for the extension of the metro into the Greater Cairo.

Inauguration of the largest wind farm in Africa

On 5th November 2015, the new wind farm ‘Gulf el Zayt’ was inaugurated under the presence of delegates from all investors, including the Egyptian Ministry of Electricity and Renewable Energy, as well as the EU.

ASCAME welcomes over 300 companies at the Mediterranean Logistics and Transport Summit

 During two days, ASCAME gathered more than 300 representatives and companies of the logistic, transport and port industry. The Mediterranean Summit has organized more than 250 B2B meetings between European and Mediterranean Countries. Furthermore the Forum has gathered - during its 13 editions - over 8950 companies which made 13 000 business contacts. The creation of a Mediterranean agency for logistics and the Mediterranean Corridor has become the main protagonists of the event one more time. Egypt, Morocco and Saudi Arabia, the invited countries for this edition, presented their investment plans and their great opportunities.

Summer School “Let’s Capitalize Your MED Initiative!”

 CEEBA, OpenMed Association, MaPE – CRENoS, ASCAME and CCIABML are pleased to invite to the Euro-Mediterranean Cooperation Summer School 2015 held in Santa Margherita di Pula, Sardinia (Italy) in Hotel Flamingo Resort from 28th of September until 2nd of October 2015.

GMI “Fostering Recycling in the Mediterranean Conference” in Alexandria

 On April 29th 2015, stakeholders of the Green Med Initiative (GMI) gathered in Alexandria for the conference “Fostering Recycling in the Mediterranean”, seeking to promote the implementation of the concept of recycling within the Mediterranean region.

The agro-food sector in the Southern Mediter-ranean meets partners and seeks technology in HISPACK &BTA in Barcelona

 Twenty two companies and technology centers and 4 Business supporting organisations from Algeria, Egypt, Turkey and Tunisia visited Barcelona on occasion of the EU Mediterranean Roadshow in HISPACK&BTA 2015 exhibition, on April 22nd -23rd “MED-FOODTECH”.

Expo Milan 2015 hosted the Euro-Mediterranean Days: Joint Cooperation to Enhance Business and Investment Opportunities

Inagurated by European parliament vice president Antonio Tajani, and organized by the EMDC and Med Alliance through the EU EuroMed Invest programme it attracted over 500 companies from both shores of the Mediterranean.

The EU in Egypt Economic Development Conference

The EU was the largest participant with a delegation headed by the High Representative Vice President Mogherini and Director General of DG NEAR Danielsson, and HoU Iodice EU member states participation was highly visible inclusive the president of Cyprus, the Prime Minister of Italy, The deputy Chancellor of Germany, the deputy prime ministers of Greece and Portugal, and ministers from France, UK, and Spain, as well as high officials and ambassadors from all member states.

EU Mediterranean Roadshow in HISPACK&BTA

Are you an enterprise active in the agro food industry ? Have you business & technology cooperation proposals and project ideas to share?
If you are a food processing company, with automation incorporated, looking for technology or investment partners, or an ingredients or intermediary food product manufacturer, looking for process solutions, technology partners or investment partners,
Join the MED-FOOD TECH Event!

"How to enter the European Market" One to One Workshop, Cairo

Entering the European market is not an easy thing when you do not have the knowledge of its functioning; nonetheless it represents a great opportunity for Southern Mediterranean agro-food producers to increase their business.

Join the Seminar and Workshop on (Exporting agrofood products to the European Union)

Entering the European market is not an easy task when you do not have the knowledge of its functioning; nonetheless it represents a great opportunity for Southern Mediterranean agro-food producers to increase their business.

3rd EUROMED Invest Academy in Belgrade, Serbia

The 3rd EUROMED Invest Academy on “Cooperation - Complementarity between the South Mediterranean and the Western Balkans” is organised in Belgrade, Serbia, on 25 - 27 of March 2015 by the Chamber of Commerce and Industry of Serbia with the coordination of the MedAlliance Consortium which consists of ANIMA Investment Network, EUROCHAMBRES (Association of European Chambers of Commerce), ASCAME (Association of Mediterranean Chambers of Commerce), BusinessMed (Union of Mediterranean Confederations of Enterprises), EMDC (Euro-med Development Center for Micro, Small and Medium Enterprises), GACIC (German-Arab Chamber of Commerce) and EABC (Euro-Arab Business Council).

4th Technical Scientific Committee of EU funded FOSTEr in MED project

The 4th Technical Scientific Committee of FOSTEr in MED project, funded by EU ENPI CBC MED Programme, will be held on the 17th and 18th of February in Aqaba, Jordan.

Philippe de Fontaine Vive in Cairo in Preparation of Egypt's Economic Summit

On 23rd December 2014, Philippe de Fontaine Vive, Vice President of the European Investment Bank met with several Egyptian representatives of the public and private sectors. In preparation of the Summit to Develop the Egyptian Economy: Egypt is the future, which will take place in Sharm El Sheikh on the 13th, 14th, and 15th of March, they discussed Egypt's strategy to develop its attractiveness to new investors.

NextMed Conference: over 500 participants attend the launch of a new phase of cross-border cooperation in the Mediterranean

Achievements and new challenges of the ENPI/ENI CBC Med Programme were discussed on December 12th during the NextMed Conference. The event, sponsored by the Italian Presidency of the Council of the European Union, saw a massive participation of over 500 people from the whole Mediterranean area. Enhanced cooperation among countries of the region under the new European Neighbourhood Instrument was highlighted as a contribution to a more integrated Mediterranean region, from the economic, political, social, and cultural points of view.

1st Euro-Egyptian Energy Day in Cairo - Full Success

On Friday the 21st November, the first Euro-Egyptian Energy Day took place at the Aquarium Grotto in Zamalek under the auspices of H.E Ibrahim Mehleb, the Prime Minister of Egypt and inaugurated by H.E. Mounir Fakhry Abdel Nour, Minister of Industry, Trade and Small Industries and H.E. Prof. Khaled Fahmy, Minister of Environment.

SUSTEXNET 2nd follow up meeting: One step closer

Under the organization of CETTEX and AITEX as Project coordinators, SUSTEXNET 2nd meeting took place on Monday 23rd and Tuesday 24th June 2014 at CETTEX premises, Tunisia.

German-Egyptian Collaboration in Wind Energy & Grid Integration

Under the support of the Federal Ministry of Economics and Energy the German-Arab Chamber of industry and Commerce (GACIC) organized The 5th Egyptian German Day renewable Energies. The one day conference brought to discussion Egypt's electrical crisis, the Wind Energy and grid integration.

FOSTEr in MED Technical Scientific Committee selects 5 buildings to host Pilot Projects

Wednesday 11th and Thursday 12th June the Technical Scientific Committee of FOSTEr in MED project met in Beirut for the 3rd coordination meeting, organized by the Lebanese project partner Industrial Research Institute (IRI).

Promotion and development of private investments in the Mediterranean: launch of EUROMED Invest Project

Local Authorities meet at the MedDiet Training

On the 26th of April H.E. Minister Adel Labib and H.E. Governor Tarek Mahdy opened the training on the principles and promotion tools for MedDiet to representatives of 10 local administrations and religious representatives from the Muslim and Coptic societies.

FOSTEr in MED Partners met in Cagliari for the 2nd management meeting

Thursday 27th and Friday 28th February the project managers and financial managers of FOSTEr in med project met in Cagliari for a two- days management meeting in order to discuss the state of activities and plan the next steps for the second year of the project. “As project managers our task is to guarantee the symmetry of the project activities, following a shared approach. At the same time we have to satisfy local needs adopting a bottom up approach”, said the project manager Nicola Nieddu.

Launch of the Euro-Mediterranean Industrial Cooperation Work Program

Ministers of Industry from the Euro-Mediterranean region have launched a new Euro-Mediterranean Industrial Cooperation Work Program for the period of 2014-2015, which aims at developing the Small and Medium Enterprises (SMEs).

Kick-off of SUSTEXNET Project

The Confederation of Egyptian European Business Associations (CEEBA) participated as a Project Partner in the Kick-off of the 24 months EU funded standard ENPI CBC Med Project; SUSTEXNET (Sustainable Textile Mediterranean Network) which took place on the 12th and 13th of February 2014 in Alcoy, Spain.

World bank launches "Enhancing Access to Finance for Micro and Small Enterprises" Project

Egypt has been facing new challenges since 2011 where the economy is struggling and the unemployment rate reached 12.7 %. However, the post-revolution period of Egypt provides new opportunities for businesses and investments.

Egypt plays catch-up through developing renewable energy

The Ministry of Electricity recently added 3,400 megawatts to the national grid to cope with the country’s energy needs in 2014. The extra supply will be achieved through running boththe Banha station at its full capacity of 750 megawatts in addition to the North Giza station at its full capacity of 1000 megawatts. There are also plans to convert a number of stations to a combined cycle system. The first stage of the project will include running various gas units before the summer of 2014, followed by a second stage in whichsome units will be converted into a steam combined cycle.

MedDiet Website Launch

The ENPI CBC EU funded MedDiet project is pleased to announce the launch of its website www.med-diet.eu. The site offers an ample of facts on Mediterranean Diet, its basics and benefits as well as information on the MedDiet project and its activities.

2nd Train the trainers of Schools involved in MedDiet in Alexandria

On the 16th of November more than 300 teacher participated in the 2nd training of teachers on the Health Benefits of Mediterranean Food and Didactical ways that is part of the EU- funded ENPI CBC Project MedDiet.

Kick off of MedDiet Training in Alexandria

Gen. Tarek El Mahdy, Governor of Alexandria witnessed the launch of the MedDiet Training for school teachers and deans of elementary and secondary schools. MedDiet Project for Mediterranean Diet and Enhancement of Traditional Foodstuff, is an ENPI CBC Project funded by the European Union.

Solar technologies in the Mediterranean: FOSTEr in MED experts met in Barcelona

Representatives from all 6 countries (Spain, Italy, Egypt, Lebanon, Jordan, Tunisia) participating in FOSTEr in MED project met in Barcelona, on 30th and 31st October 2013, to discuss on progresses made in competences transfer and pilot projects related to the innovative use of solar technologies in the Mediterranean area.

Egyptian Cuisine celebrated at Sardinia MedDiet Camp

In the frame of the ENPI CBC funded MedDiet Project, Egyptian traditional dishes demonstrated by renowned Egyptian Chef Moustafa el Refaey, owner of Zooba restaurant, found a passionate interest by a large group of Italian food bloggers and restaurant critics.

Commence of 8 EU ENPI CBC projects worth more than Euro 260 Mio. in Alexandria

On the 15th of September, 8 ENPI CBC projects were presented to the new Egyptian government by its partners, the Alexandria Chamber of Commerce, re-presented by Ahmed Wakil, CEEBA, the Confederation of Egyptian European Business Associations represented by Dr. Nader Riad, the Arab Academy for Science, Technology and Maritime Transport represented by Dr. Ismail Abdel Ghaffar and Mr. Tarek Tawfik for the Egyptian Federation of Industries.

Alexandria Chamber of Commerce to launch 8 EU-financed projects

The Alexandria Chamber of Commerce will on Sunday launch eight new projects financed by the European Union worth more than LE260 million ($37.7 million).

UfM supporting Egypt with several projects

Union for the Mediterranean (UfM) Secretary General, Fathallah Sijilmassi, has said the UfM Secretariat is currently working on the preparation of a number of projects to be implemented in Egypt in cooperation with different Egyptian ministries, particularly in the areas of renewable energy, transport, social development and support to small and medium-sized enterprises.

The EU & EBRD launches the Small Business Support Facility to SMEs in Egypt

The European Union (EU) and the EBRD are stepping up their support to small and medium-sized enterprises in Egypt. The EBRD Small Business Support team held an official launch event for its EU-funded activities in Egypt on Tuesday, 25th June 2013.

Intersolar Europe 2013: Solar in the MENA region

At Intersolar Europe, which takes place 19 to 21 June in Munich, solar in the MENA (Middle East and North Africa) will be a hot topic of discussion.

EU secures grants for the construction of additional of 600 MW of wind power in Egypt

In an effort to provide continued support in the domain of renewable energy in Egypt, H.E. Ambassador James Moran, Head of the European Union Delegation to Egypt visited the Zaafaran Wind Farm few days ago.

15 billion pounds secured for the production of Solar Energy in the South Valley

Dr. Nadia El Zakhary, Minister of Scientific Research announced the supervision of the ministry on a Solar Energy Project in the South Valley with a total cost of 15 billion pounds financed by Egyptian businessmen and international banks to produce solar energy which helps in providing clean energy in Egypt.

For the first time in Egypt, Solar Energy lightens up Kuraymat city

Ministry of Energy and Electricity announced for the first time in Egypt and the Arab region lighting the city of Kuraymat with PV cells.

Fostering Solar Technology in the Meditteranean Area

FOSTEr in MED is an ENPI CBC project which intends to fully exploit the potential of solar technologies through the transfer of technical knowhow to actors of the sector (SMEs, engineers, students), the identification of best practices in the policy and regulatory fields and the implementation of five pilot projects aiming to equip public buildings with innovative solar photovoltaic plants.

MENA Renewable Energies and Energy Efficiency Business Dinner

The Confederation of Egyptian European Business Associations in partnership with MED-ENEC and MENA-OECD Investment Programme organized a business dinner on MENA Renewable Energies and Energy Efficiency on Monday, 8th April 2013 in Cairo, Egypt.

LACTIMED: first field mission for the promotion of typical dairy products of Alexandria

From 4 to 7 March 2013, Alexandria will host the first field mission of the LACTIMED project.

European Union Funded Global Bridges Project - Antalia, Turkey 20-23 February 2013

The EU Delegation to Turkey in partnership with the Ministry of Economy of Turkey and the Union of Chambers and Commodity Exchanges of Turkey (TOBB), in cooperation with their Egyptian partners invite you to take part in the new initiative entitled "Global Business Bridges".

Two Years and the "Arab Spring" goes on: EU Engagement in the Region

The EU and its Southern Mediterranean Partners

Since the start of the “Arab Spring” around two years ago, the EU’s response to its Mediterranean partners is to support political and economic transition, developing people-to-people contacts and enhancing regional cooperation. The situation in the different countries however is diverse and each partner needs special care. The EU respects the democratic choice of the people and engages in an intense dialogue with the new governments. The EU’s engagement is grounded on its incentive-based “more for more” principle and on its “mutual accountability” as set out in the two joint Communications of 2011 issued respectively on 8 March (on the EU’s “Southern Neighborhood”) and on 25 May (on a new revised European Neighborhood Policy). In that context, the EU will continue to constructively engage with new political actors that emerged from or came to the fore via the Arab Spring. In order to help build and sustain vibrant democratic cultures in Arab countries, the EU will also continue supporting civil society and the work of relevant non-governmental organizations.
 

Mediterranean Diet and Enhancement of Foodstuff Project - MedDiet

Within the framework of the Cross Border European Neihborhood and Partnership Instrument (ENPI), the Confederation of Egyptian European Business Associations (CEEBA) will participate in a 30 months project that deals with the fostering of Mediterranean Diet and enhancement of traditional foodstuff (MedDiet) across the mediterranean. Besides CEEBA, there are 11 partners that promote and conduct MedDiet.

Green MED initiative

The Cross-Border Cooperation within the European Neighborhood and Partnership Instrument (ENPI), the Mediterranean Sea Basin Joint Operational Programme supports the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon programme which introduces the idea of a waste treatment and recycling project which is expected to last for 36 months.

H.E. President Mursi for First Visit in Berlin, Germany

The 30th of January is an important day for Egyptian economy. President Mursi is accompained by the Minister of Industry and Foreign Trade H.E. Hatem Saleh as well as a high ranking business delegation. For Egyptian economy, Germany makes the third largest trading- and most important business partner in Europe. More than 50 Egyptian businessmen travel with Mursi to use matchmakings with their German counterparts in order to initiate new contacts and trade opportunities.

CEEBA business dinner in honor of Herman Van Rompuy, President of the European Council

CEEBA has organized a business dinner in honor of Mr. Herman Van Rompuy, President of the European Council where he underlined the significance of Egyptian European relations and the critical importance of the IMF.

Declaration of the EU-Egypt Task Force Business Summit

On the 14th of November 2012 the high-level EU-Egypt Task Force met and jointly agreed upon a mutual acknowledgement and cooperation. The object of the agreement was described in a precise manner, with the intent to strengthen EU-Egyptian Business Cooperation.

CBE offers $75 million to Egyptian banks on Wednesday

Egypt's Central Bank (CBE) said it offered to sell $75 million to banks on Wednesday, Reuters reported.

Dollar selling price stabilises in Egypt after reaching record-high

After Egypt's Central Bank announced regular currency auctions to curb demand on the US dollar, the Egyptian pound settles during currency trading operations Tuesday

IMF welcomes Egypt's new currency regime

The International Monetary Fund welcomes measures taken by the Central Bank of Egypt to maintain tighter control over foreign currency supply in order to safeguard nation's international reserves

EU-Egypt pact signed, promising new investments

The EU Egypt Task Force Business and Tourism Summit took place from 13th -14th November amid a strong presence from diplomats, European business people, Egyptian ministers and the high-level executives of financial institutions from both sides. The objective of the summit was to provide a platform for future European investment in Egypt with focus on lending and the development of small and medium sized enterprises.

Commissioner Fuele: EU keen to match support to Egypt with necessary funds

The European Union is keen to support the transformation and modernisation of Egypt, and match it with the necessary funds, European Commissioner for Neighbourhood Policy Štefan Füle said in remarks at the end of the EU-Egypt Task Force meeting in Cairo.

EBRD to approve financing for Egypt before end of month

The European Bank for Reconstruction and Development (EBRD) will decide on a proposal to support Egypt with financing before the end of November, the bank stated on Monday.

Italian business delegation presents five investment initiatives

An Italian business delegation currently visiting Egypt has expressed eagerness concerning mutual cooperation and boosting trade exchange between the two nations.

IMF delegation back in Egypt

An International Monetary Fund (IMF) technical team has started the latest round of negotiations with the Egyptian Government over the proposed $4.8 billion loan. The delegation is supposed to discuss actions to solve the Egyptian economy’s enduring problems; a budget deficit that rose to 11 per cent of gross domestic product, large youth unemployment and deteriorating foreign reserves.

Egypt negotiates1.25 billion euros loan with EBRD

The European Bank for Reconstruction and Development (EBRD) is granting Egypt a loan worth €1.25 billion next year, said an official source at the Council of Ministers. He added that the bank seeks to provide Egypt with a billion Euro loan annually after three years.

Egypt examines joint securities exchange with Turkey

The Egyptian Stock Exchange is investigating the possibility of joint trading with its Istanbul equivalent, in order to allow both Turkish and Egyptian investors to trade on the other’s market.

EU Commission announces new initiatives to increase private investment in the Neighbourhood region

Two new initiatives to increase private investment in the Neighbourhood region were presented last week at the Strategic Board meeting of the Neighbourhood Investment Facility (NIF) in Brussels

UfM and Egypt: towards a more efficient network of Euro-Mediterranean logistics platforms

A delegation from the Union for the Mediterranean (UfM) lead by Deputy Secretary General Ambassador Yigit Alpogan has visited Egypt in order to raise awareness on the UfM project “Training Activities under the Programme on the Development of a Network of Euro-Mediterranean Logistics Platforms (LOGISMEDTA)”, as well as to involve the Egyptian government in it. The visit is in line with similar visits to Morocco and Tunisia in May 2012.

Egypt's government details fuel subsidy rationing

Egyptian government plans to cut energy subsidies by setting a universal limit on how much cheap fuel and cooking gas every household can buy, Petroleum Minister Osama Kamal told a newspaper on Sunday.

Egypt's government plans gas subsidy coupons by winter

Egypt expects to start distributing coupons for subsidised cooking gas by the start of the winter season as the government tries to lower subsidy costs that consume up to quarter of its budget.

EU wins Nobel Peace Prize

The Nobel Committee in Norway handed its 2012 Peace Prize to the European Union and thus acknowledged the idea of European Unification and recognised 60 years of peace between its members during which the contentious continent became a precursor of reconciliation, amity, democracy, and human rights.

New closing hours for Egypt shops supposed to save LE6 billion in electricity costs

The decision of the Egyptian government to enforce strict new closing times for shops and restaurants will save the country up to LE6 billion ($1 billion) a year in electricity costs, as the Trade and Industry Minister, Hatem Saleh, has stated.

Nations pledge $165 million to aid Arab Spring states

Industrialised and oil-producing countries on Thursday pledged $165 million to a World Bank transition fund to help ease economic transition in nations swept up in the Arab Spring popular uprisings.

Egyptian Delegation to Attend IMF and World Bank Meetings

An Egyptian high level delegation leaves Cairo for Tokyo to take part in the official one week meetings of the IMF and World Bank (WB) to be held in the Japanese capital. The meetings will deal with means to give a push to the world economy and help it come out of its present crisis.

Egypt turning to Turkey for private investments

This month, the Turkish government agreed to deposit $2 billion in the Central Bank of Egypt to fund small and medium-sized enterprises following an official visit made by President Morsy to Istanbul late September.

Spanish cooperation agency and EIB to invest up to 100 million Euros to support SMEs in Southern Mediterranean

The Kingdom of Spain through the Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has contributed up to €100 million to the European Investment Bank (EIB) for investment across the Southern Mediterranean region

EU Seeks Broader Cooperation with Egypt

The EU plans to grant Egypt €20 million to finance a new program designed to fund small enterprises, in addition to an allocation of €35 million to four development schemes in agriculture, said James Moran, head of European Union Delegation to Egypt.

Italcementi Increases Investments in Egypt's Energy and Environment Sectors

Bruno Carré, Managing Director of Suez Cement Group (SCGC), which is a subsidiary of Italcementi, Italy's leading cement producer,said that the Egyptian economy is moving forward and able to absorb more investments. He pointed out that Prime Minister Qandil's government has brought some confidence back to the Egyptian economy, which already enjoys high potentials that can place the country among the world's leading economies.

Egypt Discusses a New Loan with the World Bank

The Egyptian government has started negotiating loan with the World Bank to finance the privatisation and restructuring of the public sector.

Mursi and Erdogan sign $1 billion loan to offset Egypt's deficit

President Mohamed Mursi and Turkish Prime Minister Recep Tayyip Erdogan signed a $1 billion loan on Sunday, half of the aid package Ankara promised Cairo earlier this month, Egypt’s state news agency reported.

EBRD expects to start investment in Egypt this November

Reuters stated on Monday, that the European Bank for Reconstruction and Development (EBRD) says the summer's political uncertainty caused a slight delay in its activities. "We are working on Egypt...we would expect that to be completed and us to be able to invest in Egypt by November" says Hans Peter Lankes, acting vice president for operational policies at the EBRD. "The reason why Egypt is now a few weeks behind is simply because of the political situation in June, July, and August," EBRD president Suma Chakrabarti says, "We didn't really have anyone to talk to at the time."

"The opportunity is approaching to invest in Egypt" Dr. Rainer Herret

The German Parliament held a session to discuss the cooperation means and German Programs that can support Egypt and the Arab Spring countries, the session was headed by the Foreign Affairs head of committee in the German Parliament, who is also leading the majority party in Germany Dr. Rainer Stinner. other parliament members also took part in the session as well as heads of the German Chambers in North Africa and the Middle East, German funding agencies and government representatives.

EU approves 84 million Euros in new regional projects for Mediterranean partners

The European Union has approved €84 million in new support for regional projects in the Southern Mediterranean, in key areas ranging from women's empowerment to the environment, civil protection and assistance to business.

EU, France sign 940 mln Euro Metro deal with Egypt

The European Union and France have signed a 940 million euro agreement with the Egyptian government to fund the construction of a new metro extension, the EU mission in Cairo said in a statement on Sunday.

CEEBA Business Dinner - Discussing the Egyptian European Economic Cooperation

Cairo - "Bridging the Mediterranean“, facilitating trade between Europe and Egypt - this is the aim of the Confederation of Egyptian European Business Association (CEEBA) and likewise this was the motivation behind a Business Dinner the Confederation had invited for on the 16th of September.

EU and Turkey - Global Business Bridge

A Bridge-Building Conference is taking place on the 1st of October in Istanbul, launched by the EU delegation to Turkey and co-financed by the Union of the Chambers and Commodity Exchanges in Turkey (TOBB) with support from the Turkish Ministry of Economy.

EU Commission, 10 mln for water and sanitation

The European Commission approved new funding of 10 million euros to improve access to drinking water and sanitation for over 15 million people in Egypt. This comes as a first contribution from the 303 million euros European Water Initiative led by top European Financial Institutions to support Egypt's water supply and sanitation sector for the benefit of the population.

EIB-FEMIP celebrates tenth anniversary

Ten years of European Investment Bank’s Facility for Euro-Mediterranean Investment and Partnership (EIB-FEMIP) means ten years in which the neighbours of the EU could benefit from long-term investment programmes promoting economic and social development in the Mediterranean region.

Catherine Ashton meets President Mohamed Mursi in Brussels

During his visit to Brussels President Mursi discussed the recent economic situation with EU High Representative Catherine Ashton. 

EU and Egypt - Friends, Neighbours and Partners

President Mursi‘s first Europe trip since his election in June tightened relations to the EU member states.

Tourists are Coming Back

Statistics show a decisive increase in touristic activity during the first half of 2012. The government statistical agency CAPMAS reported a total amount of 5.08 million tourists who came to Egypt from January to August 2012.

New initiative to maximise benefits of international trade agreements

The Federation of the Chambers of Commerce (FEDCOC) has adopted an initiative to review the trade agreements signed with Egypt in previous years. The initiative is aimed at seeking methods to derive optimal benefit from the agreements.

BP to begin $10 billion Egyptian gas project

Energy giant gears up for Mediterranean venture as it announces $10 billion in new investments in Egypt over next five years.

Govt Urges Putting Water Issue Among Funding Priorities of European Union

Minister of Irrigation and Water Resources Mohammed Baha al-Din returned back after a visit to Sweden last week as he took part in the World Water Week organized by the Stockholm International Water Institute (SIWI).

Egypt population reaches 91 million, grows 18 per cent in eight years

Egypt's total population tops 90 million, including expats abroad, says national statistics body

Government to stop subsidizing energy for cement factories, says minister of Industry and foreign trade

Hatem Saleh, newly appointed minister of Industry and foreign trade, said in a press conference on Sunday that energy for new cement factories will no longer be subsidized by the government.

Alexandria 16-year-old creates groundbreaking method for making fuel

Egyptian student Azza Faiad found an innovative way to generate biofuel by breaking down plastic waste.

Petroleum Ministry raises diesel quota for electricity stations

Newly Appointed minister of Petroleum & Mineral Wealth, Osama Kamal, decided to pump additional quantities of diesel fuel channeled to power stations by 150 percent.

Egyptian artists to participate in the World Event Young Artists in Nottingham

The World Event Young Artists that will be held in Nottingham, 7 - 16 September will include works from Egyptian and other Middle Eastern artists

South Mediterranean producers, apply for training!

South Mediterranean producers who want to bring their feature or documentary film projects to the international marketplace can now apply to Access 2013, the last of two nine-month training programmes. Producers with a fiction or documentary film project are invited to send in their applications by October 20.

International renewable energy companies take interest in Marsa Allam

Power cuts are a nuisance to any domestic home, for the tourism industry however they can pose serious problems.

Heliopolis University, first university in the Middle East focusing entirely on sustainable development

With the world facing unprecedented challenges such as poverty, food insecurity or climate change, Heliopolis University uses innovative, forward-looking study programs to empower its students to find creative solutions to society’s most pressing needs.

Egypt and World Bank sign a $200 million loan aimed at creating a quarter million jobs

Egyptian Cabinet ministers and World Bank officials have signed off on a $200 million project aimed at creating 250,000 jobs after more than a year of slow economic growth.

Egypt expects Qatar deposit within a week: Minister

First tranche of the emirate's $2 billion in financial aid will enter country's central bank before Eid, says official

New regional higher education initiatives under way

Egypt has launched news higher education initiatives including a plan to set up branches of Alexandria University in Lebanon and Malaysia, establishing an Arab higher education area and joining the Arab and European Leadership Network for Higher Education.

Euromed Youth newsletter: On the way to next year's challenges

More than 800 participants from about 600 NGOs have benefited from 27 information and training sessions on how to apply for a grant project, organised by the EU-funded Euromed Youth IV programme, in Tunisia, the Palestinian territories, Jordan, Israel and Egypt, since the beginning of 2011, according to the second edition of the programme’s newsletter.

Perceptions of Arab and Muslim populations in Europe: Anna Lindh Foundation holds debate on role of media

25 participants including journalists, civil society representatives and representatives of Muslim communities in Europe as well as experts on issues related to media, migration and perceptions took part in a two-day workshop, organised by the Anna Lindh Foundation on the role of media in presenting information related to the Arab uprising and economic crisis and the impact this has on mutual perceptions between the people of the region and in particular towards Muslim populations in Europe.

Plan to increase support for Egyptian exports through IT solutions

The Information Technology Industry Development Agency (ITIDA) is working on its IT development exports programme and expanding its projects. ITIDA is pursuing a partnership with a foreign investment company to help it execute its strategy until the year 2020.

"Tourism Development Authority" planning a new solar power plant

General Tarek Saad El Din, Head of Tourism Development Authority stated that they are planning to build a solar power plant in Marsa Allam in cooperation with New and Renewable Energy Authority to serve the touristic projects in the region, pointing out that they still didn’t decide on the land by which the project will take place.

EU funds city sanitation and beautification project

The Chairman of the Federation of Egyptian Chambers of Commerce (FECC), Ahmed El-Wakeel, revealed that the Alexandria Chamber of Commerce obtained financing for the first stage of a project to remove trash and to beautify the city. The European Union (EU) is providing the financing for the project, which will cost EGP 40 million.

Egypt's post-revolution governments signed 36 finance treaties worth $5.8 bn

Egypt has signed 36 international cooperation treaties in the period between January 2011 and July 2012, making available $5.8 billion in financing, according to a statement issued by the ministry of international cooperation on Monday.

IMF mission to discuss loans in Egypt this month

International Monetary Fund delegation is set to visit Egypt in August to discuss possible financial support for a 'homegrown economic programme'

Government attracts funding originally allocated for SMEs

The government’s expansion of high interest bonds and treasury bills led to a decrease in financing for small and medium sized enterprises (SMEs), the support of which the state claimed to be the primary goal of the post revolution government.

Egypt accepts World Bank loan criticized by Salafis

The World Bank has agreed to give Egypt a loan of US$200 million to fund the upgrade of sanitation and sewage infrastructure in four governorates in the Nile Delta and Upper Egypt, an official said on Wednesday.

World Bank says rising food prices a concern, ready to help

The World Bank stated that it will stand for helping the world's most poor and will not allow short-term food-price spikes to have long-term damaging consequences.

The German-Egyptian Scientific Research Fund supports joint innovative projects

The German Ministry of Education and Scientific Research in cooperation with Science and Technology Development Fund in Egypt announced their support to the innovative research projects in the field of applied research, and this is through the German Egyptian Scientific Fund.

MENA CSP Scale-Up Initiative: Joint Workshop of the African Development Bank and the World Bank Group

To increase energy security, strengthen regional integration and promote industrial growth and diversification, Algeria, Egypt, Jordan, Morocco and Tunisia have joined together to expedite the deployment of concentrated solar power (CSP) and exploit the region's vast solar energy resources.

Egypt energy subsidies to be cut retroactively

The Egyptian Natural Gas Holding Company (EGAS) has decided to apply a government decision to increase the price of natural gas for heavy industries and some industries that consume less gas.

Euro-Mediterranean University of Morocco to be opened in 2014

The 43 states of the Union for the Mediterranean (UfM) plan to set up an international centre for higher education and research, the Euro-Mediterranean University of Morocco, with a focus on Euro-Mediterranean issues and priorities.

Joint EU, UNESCO initiative to safeguard Mediterranean culture

The European Union delegation to Egypt announced Tuesday that it was providing EUR 17 million to a United Nations Educational, Scientific, and Cultural Organization initiative partnered with Egypt, Lebanon and Jordan to implement national projects aimed at preserving “intangible” cultural heritage.

EU grants Egypt $23 million to improve living conditions of those living in slums

Egypt recieves a new grant from European Union worth LE150 million ($23 million) to improve living conditions and developing slums.

New Egyptian-American fund to finance SMEs

U.S. Secretary of State, Hillary Clinton, announced during her visit to Egypt the establishment of an Egyptian-American fund to provide financing for small and medium sized enterprises (SMEs).

European Commission adopts decision adding Libya to Euro-Med regional cooperation programmes

The European Commission has adopted a decision, which officially adds Libya to the list of countries participating in the activities of its regional cooperation projects and programmes designed for the Euro-Mediterranean Partnership.

EU and Mediterranean partners review industrial cooperation work programme progress and plan forward

The European Commission’s DG Enterprise and Industry held a working party on Euro-Mediterranean Industrial cooperation in Brussels on 10 and 11 July 2012.

EU Research Ministers stress commitment to Euro-Mediterranean cooperation

EU Research Ministers on Friday affirmed their commitment to Euro-Mediterranean cooperation in research and innovation, as well as the readiness of their countries to engage in the preparation of a joint research programme for the Euro-Mediterranean region.

Ashton announces a EUR 4 million to support women's rights

Catherine Ashton, EU High representative announced during her visit to Cairo last week, an initiave of EUR 4 million which will bring EU support for women's rights in Egypt up to EUR 11 million.

Egypt secures 300 million riyals from Saudi fund

The Saudi Fund for Development started a project to improve irrigation for more than 20,000 feddans in Egypt.

Arab Monetary Fund arranges $65 million credit facility for Egypt

The Arab Monetary Fund (AMF) said that it was arranging a $65 million credit facility for Egypt to help the country trade with other Arab states.

50m Euros French loan to expand electricity grid

The French Ambassador to Egypt, Nicolas Galey, and Pierre Marcelli, director of the French Development Agency (FDA)’s office in Cairo, signed an agreement to provide a €50m soft loan to the Egyptian government.

Alstom Grid to build a Gas-Insulated substation for Egypt's largest wind farm

Alstom Grid has been awarded a contract worth around €12 million with Egyptian Electricity Transmission Company (EETC) to manufacture and deliver a Gas-Insulated Substation (GIS) to their new Gabal El-Zayt wind farm.

As e-waste piles up, Egyptian local intiatives take matters into their own hands

As technology advances, causing prices to drop and new forms of media to become obsolete, a modern form of extremely hazardous waste has been piling up — much to the detriment of communities and the environment.

Euromed Heritage hails successful partnership leading to UNESCO recognition for Rabat

The Euromed Heritage programme has welcomed UNESCO's decision to register the Moroccan capital Rabat on its World Heritage list, one of the few capital cities in the world to be registered on the list as “modern capital and historic city: a shared heritage".

One Billion Loan Agreement From ITFC

Prime Minister Kamal al-Ganzouri witnessed on 1/7/2012, the signing of one billion-dollar agreement with the International Islamic Trade Finance Corporation (ITFC) to help Egypt buy petroleum products and basic commodities.

EU to grant Egypt 180 million pounds to finance 5 development projects

The EU has approved granting Egypt 180 million pounds to finance 5 development projects to be implemented by Alexandria Chamber of Commerce, EuroChambres, German-Arab Chamber of Industry and Commerce in cooperation with Italy, Spain, France, Greece and Portugal.

Paving the way to a sustainable Egypt-- A discussion in the light of RIO +20

In the light of UN Conference on Sustainable Development, RIO +20, Cairo Climate Talks holds its 8th monthly panel discussion on the topic “Paving the way to a Sustainable Egypt”. It will be held on 10th of July 2012 at 7:00 pm in the premises of the DAAD (German Academic Exchange Service, 11 Sh. Saleh Ayoub, Zamalek).

First specialised website to support investment and trade in Egypt

In an effort to bolster sustainable economic development, the Crédit Agricole Bank of Egypt held a symposium yesterday in collaboration with several key organisations, titled “Supporting Trade and Investment.”

EU launches website for European cultural activities

A new website has been launched advertising European cultural actions in Egypt. From this week, European cultural cooperation goes live on the internet, offering lovers of culture a single entry point for all the cultural activities implemented by the European Missions, Cooperation Agencies and Cultural Centres.

EU,new funds for investments in neighbour countries

The European Commission has announced additional support for countries in the Eastern and Southern Neighbourhood in areas such as road building, climate change, energy or supporting businesses.

World Wind Energy Award 2012 goes to the Hepburn Community Wind Farm in Australia

On the occasion of the 11th World Wind Energy Conference 2012 in Bonn, Germany, the Board of the World Wind Energy Association has decided to give the World Wind Energy Award 2012 to the Hepburn Community Wind Farm in Victoria/Australia and its initiators.

Egypt attracted 1.05 million tourists in April 2012, a 30% increase compared with 2011 - 02 July 2012

The number of tourists visiting Egypt increased by 30.8 percent in April over the same month last year, a government agency said.

World Wind Energy Conference opened in Bonn

The 11th World Wind Energy Conference 2012 (WWEC 2012) has been opened officially yesterday in the World Conference Center in Bonn. 

FARO : Only three selection committees left

Last selection session scheduled November 30, 2012. One last chance for project owners to apply before the fund Faro closing.

MOU between the Arab Contractors and the German-Arab Chamber of Industry and Commerce

The German- Arab Chamber of Industry and Commerce along with the Arab Contractors have signed an MOU to train one thousand workers.

Euro-Mediterranean University offers summer courses

The Euro-Mediterranean University (EMUNI University) based in Portoroz in Slovenia, has launched its 5th Summer Semester - Professional School 2012 offering postgraduate courses in issues related to the Union for the Mediterranean (UfM). The lessons are held between June and September at different partner institutions around the Mediterranean, including Greece, Italy and Spain.

The XXII ASCAME General Assembly

The Federation of Egyptian Chamber is supporting the Arab Business community and provides business advice for new investors who want to start a new business in Arab countries. Now they will also chair the Culture and Intellectual Property Commission in collaboration with ASCAME.

Innovation Fund provides startups with up to 11m Euros

The Innovation Fund will provide €11m in funds for small projects in disbursements that will cover from 50% to 90% of total project costs.

Rainer Hinrichs-Rahlwes elected new president of the European Renewable Energy Council

During its Board Meeting on June 22nd, 2012, the European Renewable Energy Council (EREC) elected a new President, Rainer Hinrichs-Rahlwes, who replaces Arthouros Zervos, EREC’s founding President.

ASCAME's renewal of working commissions

During the XXII General Assembly of ASCAME, held the 2nd of June 2012 in Istanbul (Turkey) it was ratified by unanimity and after proposal of the Executive Committee, the renewal of the working commissions.

Morocco aims to reach 25% Renewable Energy by 2020

According to ANBA: While in some countries in North Africa the investment in alternative energy is still a project, in Morocco it is reality.

Sustainable Energy Europe Awards 2012

EU Sustainable Energy Week was held this year from 18 to 22 June 2012 in Brussels, EUSEW is considered the core annual event of the Sustainable Energy Europe Campaign, which features activities dedicated to energy efficiency and renewable energy solutions. It aims to demonstrate to businesses, decision-makers and the wider public that sustainable energy technologies are viable, cost-effective and good for the environment and our economy.

EU allocates 20 million euros to support civil society in Egypt

The High Commissioner for Foreign Affairs and Security in the European Union Catherine Ashton said the European Union has allocated 20 million euros to support civil society in Egypt to promote freedom of expression and support women and send experts to follow up on the presidential elections to encourage the rule of law in Egypt.

Egypt became the 100th member of IRENA

International Renewable Energy Agency (IRENA) welcomes its 100th member in a joint press release with the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, the Federal Ministry for Economic Cooperation and Development, and the Federal Foreign Office.

Federation of Egyptian chambers of commerce taking steps to include Egypt in the European Aid

Ahmed El Wakil , president of the Federation of Egyptian Chambers of Commerce have declared that the Federation has already taken positive steps to include Egypt in the European Aid strategy with Turkey and benefit from the partnership project of 3000 companies that the EU Aid supports through different industrial projects.

Central Bank demands restructuring of energy subsidies

The deputy governor of the Central Bank of Egypt has called for the restructuring of energy subsidies, which are a LE100 million annual burden on the state budget.

The Mediterranean Blue is awarded to Baroness Ashton

Baroness Ashton held a meeting on May 31st, with heads of Euromed employers, Dr. Alaa Ezz - CEEBA Secretary General, Federation members of Businessmed chaired by Tuis as well as Bernardino Leon and EEAS Directors and Heads of Units.

Egypt: New Solar energy plan generate 3,500 megawatts

Egypt’s minister of Electricity and Energy H.E. Hassan Younis has started the first Egyptian solar energy power plan with photovoltaic and concentrated solar power. The intention is to use the country's huge solar energy sources and long sunshine hours throughout the day and generate 3,500 megawatts of solar energy. The minister explained that solar energy has many positive aspects in terms of environment protection, lower greenhouse effects and more protection of natural resources. The plan is part of the electricity sector's strategy for supporting and spreading renewable energy usage.

Turkey bypasses Syria to reach Middle East via Egyptian ports

The first Ro-Ro ship to take Turkish goods to Gulf countries via Egypt is to leave the Port of Mersin on April 26. The much-awaited Ro-Ro line, taking the place of the Syrian route that has become too costly for Turkish exporters because the Syrian side significantly increased fees to transship goods, will allow Turkish exporters to reach not only Jordan and Gulf countries on the Arabian peninsula, but also African countries with relative ease.

Dr. Galal Osman, joins the board of directors of International Solar Energy Agency

The International Solar Energy Society has decided to appoint Dr. Galal Osman, head of the Egyptian Wind Energy Association as an honorary director to its board which comprises 31 multi-national members, to be the only Arab Egyptian member in the board of directors.

Meeting with Assafrica representatives for the organization of a workshop regarding the relaunching of the Business Country Desks (BCD) project, in Rome, on March 30th 2012

The Union of Mediterranean Confederations of Enterprises (Businessmed) met Assafrica representatives in Rome on March 30th 2012 to discuss about the organization of a workshop dedicated to the Business Country Desks project.

Cooperation on water technologies - expertise for the new Egypt

In a country where water scarcity is a great challenge, and with problems on the distribution of Nile water, and lack of specialized skills in the technical processing of water, environmental microbiology, Egypt decided to face this problem with the aid of the German Technology by scientists from Deusberg Essen University which is supported by the German Academic Exchange Service-DAAD.
The DAAD will grant Egypt 340 000 Euros for a collaborative project between the Research Centre for Water and Environment and the University of Fayoum.

A new European Union Ambassador to Egypt

A new European Union Ambassador to Egypt has been appointed replacing his predecessor H.E Mr. Marc Franco.

The Release of the first economic Constitution in the history of Egypt

On Saturday 14th January 2012 the Federation of Egyptian Chambers of Commerce (FEDCOC) released the first economic constitution in the history of Egypt. This came just one day to the planned visit of the IMF to the country where a possible loan of $3 billion from the IMF to Egypt was to be discussed.

New fund for RE Projects in Egypt

According to H.E. Hassan Younes, Minister of Electricity and Energy, Egypt plans to set up in the coming phase a new cabinet affiliated fund for renewable energy projects.

Egypt transforms its desert into a renewable powerhouse

This year the 10th edition of the World Wind Energy Conference & Renewable Energy Exhibition (WWEC 2011) will take place in November in Egypt. Focus of the event is to promote the development of renewable energy and the acceleration of wind energy deployment in the MENA region: for this reason, the theme is “Green Energy: Changing Deserts in to Power Houses”.

Meanwhile, the host country is progressing well regarding its ambitious plans to increase substantially the share of wind and other renewable energies.

Germany swaps 240 euros of Egyptian debt to support Egypt's economic and political development

Germany will roll over 240 million Euro in Egyptian debt into development aid. The newly installed Egyptian foreign minister Mohamed Kalem Amr met his German counterpart Guido Westerwelle on Friday in Berlin during his first trip to Europe. According to the deal approved by both sides, the outstanding loans will be swapped in order to finance projects to support the stagnating economy and ease democratic reforms. These €240 million come on top of the €150 million which have already been pledged by Germany for Egypt for the period between 2011 and 2013.

The Dii and the DESERTEC Foundation launch DESERTEC Thesis Award

The industry initiative Dii, the DESERTEC Foundation and its University Network proudly announce the launching of the DESERTEC Thesis Award this year. The award shall recognize outstanding research papers. Students and young academics from the Middle East, North Africa and Europe who work or have worked within the framework of a university or research center are very welcome to apply. Relevant are all papers related to the implementation of the DESERTEC vision: power generation from sun and wind energy in the deserts, electricity transmission over long distances, renewable energy project financing as well as regarding socio/economic effects of the implementation of the DESERTEC vision in producing countries. The deadline is September 16th 2011.

Egypt accepts $2 billion from the World Bank

The Ministry of International Cooperation has accepted US$2 billion in grants and loans from the World Bank under the Partnership for Development Program.

Egypt's exports to France rise by 40 percent

According to statistics of the Commercial Representation Authority, the overall trade balance between Egypt and France increased by 36.4 percent to one billion euros from January to April 2011 compared to the same period previous year. Egyptian exports to France rose by 40 percent to add up to 466 million euros in 2011. While oil exports shot up by 52 percent to reach 261.3 million, non-oil exports increased by 27.3 percent to reach 205,1 million euros. Imports from France went up by 33.3 percent to 532 million euros compared to 400 million last year. Main Egyptian export items included perfume essences, vegetables, cotton and ready-made garments.

Egypt first African Country to compete in European Solar Competition

The American University in Cairo is the first African and Middle Eastern university competing in a European competition in Madrid, Spain, this September. Solar Decathlon Europe 2012 is a worldwide contest where 20 universities compete for the design and construction of a self-sufficient house. The AUC intends to build a home which is energy-efficient and environmentally sustainable, naming the project Sustainable Living Interactive Design SLIDES.

Following Maystadt's visit to Egypt: EIB wants to loan 1,5 billion Euros to Egypt, and diversify its portfolio to better reflect Egyptian government's needs and priorities

The European Investment Bank (EIB) plans to offer 6 billion Euros in loans to the Arab region in the coming years, of which €1.5 billion are expected to go to Egypt. Much of this financing has already been “identified in pipeline projects”, says Maystadt, EIB president, during his visit to Cairo last week. The EIB has traditionally focused on projects in Egypt’s energy sector. However, Maystadt stressed the money would also flow into other sectors and projects, which are in line with the priorities of the new government.

Economic Update on Egypt and on the EU

Egypt has always been interesting for investments. After Jasmine Revolution the country has been granted even more financial assistance for an ample range of programs. Although the European Union has become weakened due to the Euro crisis, stronger countries as Germany or Denmark support Egypt financially. Egypt is on its way of stabilization and therefore, its economy has recovered slightly in comparison to the previous months.

You can view the new version dating from the 10th of July here.

610 million Euros from EIB to support Egyptian electricity

The European Investment Bank EIB is willing to continue to support electricity projects in Egypt with 610 million Euros. The money will be invested in the projects of the wind farm of Gebel Zeit and the North Giza plant (1 and 2). Moreover, it is under discussion that the North Giza plant (3) and a wind plant in the Gulf of Suez could also be funded by the EIB in the future.
www.eib.org
 

Ethiopia plans power exports to Egypt

Ethiopia plans to produce 20,000 Megawatts of electricity in the next ten years. This will enable the country to sell power to Sudan, Yemen, Kenya and Egypt. Therefore, it is about to become the major power exporter on the continent. Currently, Ethiopia is building a 5,250 Megawatts dam and six more projects are planned or under construction, adding 5,000 Megawatts. Among them is a project which links Ethiopia with Sudan and Egypt with a 3,000km 500kV line. Officials estimate that the hydropower potential of the country has a capacity of around 45,000 Megawatts. Thus, these projects will boost the economies on the African continent and give more power balance in the region through the regional interconnection.

DAAD offers Scholarships for German Master Programmes

The German Academic Exchange Service (DAAD) is an independent organization of higher education institutions in Germany and has just started a new initiative to attract young qualified employees and young executive managers for master programmes in Germany.

IMF grants $3 Billion support for Egypt

Deputy Director of the IMF’s (International Monetary Fund) Middle East and Central Asia Department, Ratna Sahay, announced the draft for the $3 billion support to Egypt. The 12-month stand-by arrangement shall support Egypt’s transition towards democracy.

G8 countries will give $20 billion to post-revolution governments in the Arab World

Last weekend the G8 countries USA, Canada, Japan, Germany, Russia, France, Great Britain and Italy meet in the French town Deauville. The summit was also attended by representatives from African countries such as Tunisia and Egypt for a fair and cooperative dialogue.

EU increases financial assistance to nearby countries

The EU made a U-turn in its policy to its nearby countries by releasing the document “A New Response to a Changing Neighbourhood”. Among the 16 listed EU neighbours are Algeria, Azerbaijan, Egypt, Georgia, Israel, Jordan, Morocco or the Palestinian Territories. They offer to give more aid to those moving faster towards democracy.

Europe development bank considers Arab potential

After financing the former soviet states over the past two decades the European Bank for Reconstruction and Development EBRD intends to expand its operations to North Africa.

Egypt and Italy sign mutual cooperation agreements

Egypt and Italy met the first time after the 25th January Revolution and signed several contracts such as the Memorandum of Understanding on a debt for development swap deal.

Study: European Union and Egypt - Beyond Investments

The study called “European Union and Egypt – Beyond Investments” by Dr. Alaa Ezz, CEEBA Secretary General and Niveen El Shafei, GAFI vice chairperson, is now available online.

France allocates 20% of aid for democracy in Egypt and Tunisia

According to the French Foreign Minister Alain Juppe, 20% of France’s foreign aid should be used to establish democracy in Egypt as well as Tunisia.

EU announces new plan for trade stimulation for North Africa

Brussels confirmed an agreement which will enable countries in North Africa, the Middle East and the Balkans to export goods to the EU at lower tariffs, in order to provide incentives for bilateral trade.

No stipulation on European support to Egypt

Foreign Minister of Egypt, Nabil Al-Araby, stated on Monday, that Europe has not set any conditions in order to support the economy of Egypt yet.

French foreign minister promises assistance to Egypt

On his recent trip to Egypt, the newly designated French Foreign Minister Alain Juppe, met with the head of the Supreme Council of Armed Forces, Hussein Tantawi, and Secretary General of the League of Arab States.