EU sanctions USD104mn to finance Egypt's food supply

CAIRO: Ursula von der Leyen, the visiting President of the European Commission, announced that the EU has allocated 100 million euros (USD104 million) to Egypt's food crisis as "urgent relief."

"We stand behind Egypt in this catastrophe," Von der Leyen stated in a joint televised press conference with Egyptian President Abdel-Fattah al-Sisi, referring to the global grain scarcity caused by the Russia-Ukraine war, as per reports.

The USD 3.13 billion given to Egypt is part of a USD 3.13 billion EU budget for agriculture and irrigation activities in the area.
She also underlined the significance of increasing Egypt's energy cooperation, saying that Egypt could serve as a model for sustainable energy and that she supports "Egypt being a regional hub for energy trade."

"We also decided to cooperate in the areas of technical and financial assistance, as well as investments, to create the infrastructure for the generation of green hydrogen as a source of clean energy," the Egyptian President said.

Von der Leyen was present at the signing of a framework agreement between the EU, Egypt, and Israel to sell Israeli gas to Europe via Egypt earlier on Wednesday.
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