Germany pledges USD500m to support Egyptian economy
Germany has offered Egypt USD500mn to support its economy, said the Ministry of Investment and International Cooperation. USD250mn will be allocated to support the economic program, and USD250mn to support several other sectors, including micro, small, and medium-sized enterprises, the ministry said in a statement. The support will reportedly come in the form of grants and concessional funds, according to a government official. The German offer came during a visit to Egypt by German chancellor Angela Merkel.
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