Egypt third largest German aid recipient
A recently publicized economic study by the Egyptian Economy and Foreign Commerce Ministry shows that Egypt is the third largest country in terms of the value of technical and financial aid received from Germany.
According to Al-Sharq Al-Awsat newspaper, during 2000, German aid to Egypt totaled DM 115 million, DM 21.2 million of which was non-refundable, DM 15 million technical assistance and the rest soft loans.
This study showed also that Germany invests in 148 different projects in Egypt, with a total capital assessed at EP 3.913 billion. The investment costs of the projects are estimated at EP 5.256 billion.
Furthermore, the study revealed that the value of commercial exchanges between Egypt and Germany stood at DM 4.302 billion in 1999. This figure includes DM 645.7 million in Egyptian exports and DM 3.836 billion in Egyptian imports. During the first half of 2000, the value of Egyptian exports to Germany hit DM 550 million. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)