The European Union will give Egypt a financial aid package worth US$650 million, Egyptian Minister of Finance Momtaz al-Saeed said Wednesday. Following his meeting with EU Ambassador to Egypt Mark Franco and the World Bank's Country Director for Egypt David Craig, Saeed told reporters the World Bank will give Egypt a total of US$2 billion over two years as it had pledged earlier and $500 million in immediate financial assistance The three leaders discussed several projects that Egypt is carrying out in cooperation with the World Bank, including one to recycle solid waste that aims to create job opportunities and protect the environment. Saeed also said that Egypt will soon continue its discussions with the World Bank, which has promised to support the country's economic reform program through short and medium-term reform procedures. The delay in the delivery of aid packages promised by some countries is affecting the economy, Saeed said.
