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EU signs €1bn financing deal for Egypt at investment forum

EU signs €1bn financing deal for Egypt at investment forum

European Commission President Ursula von der Leyen announced Saturday a €42 billion ($45 billion) investment by European companies in Egypt as well as cash from Brussels to help the country’s troubled economy.

Von der Leyen told the Egypt-EU Investment Conference in Cairo that the firms had signed more than 20 new deals or memoranda of understanding (MOUs) with the Middle East country.

The European Union has promised Egypt €7.4 billion in financial support for its economic…


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