EU says Egypt to receive $6.5 billion in grants and loans

CAIRO Sun Jan 13, 2013 2:57pm GMT

European Union President Herman Van Rompuy of Belgium makes a statement at the Finnish Prime Minister Jyrki Katainen's official residence in Helsinki October 12, 2012. REUTERS/LEHTIKUVA/Vesa Moilanen

European Union President Herman Van Rompuy of Belgium makes a statement at the Finnish Prime Minister Jyrki Katainen's official residence in Helsinki October 12, 2012.

Credit: Reuters/LEHTIKUVA/Vesa Moilanen

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CAIRO (Reuters) - European Council President Herman Van Rompuy, visiting Cairo, said on Sunday the European Union and other financial institutions had offered Egypt over 5 billion euros to support Egypt's democratic transition.

"The European Union and associated financial institutions have offered an amount of more than 5 billion euros, or more than $6.5 bln, in grants, concessional loans and loans for a period of 2012 and 2013 to support Egypt's democratic transition," Rompuy told reporters.

(Writing by Marwa Awad; editing by Andrew Roche)

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Comments (1)
thorpeman wrote:
Where is this mad professor getting this money from? I though his budget strings were tight? Isn’t he taking a gamble giving our money to a president that doesn’t seem to think democracy is a good thing or civil liberties for that matter? At least Egypt’s president was elected!

Jan 13, 2013 9:15pm GMT  --  Report as abuse
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