BRUSSELS, 17 July 2017 / PRN Africa / -- The European Union and Egypt have been moving forward engaging on shared priorities under their Association Agreement.

As the country is faced with an increasingly complex economic, social, political and security environment, the EU is firmly committed to continue supportingEgypt in addressing current challenges, based on new partnership priorities.

This is the conclusion that emerges from the joint report released today by the European External Action Service and the European Commission on the partnership between the EU and Egypt for the period from January 2015 to May 2017. The report comes ahead of the 7th EU-Egypt Association Council, scheduled to take place on 25th July 2017 in Brussels.

Over the past two years, the EU focus has been on supporting Egypt's economic, social and political development to improve the future prospects of its people and contribute to stabilisation and long-term prosperity of the country but also the region. The EU, together with EU Member States, has been actively supporting Egypt in a wide range of critical areas including socio-economic development, education, health, energy, transport, environment, climate action, information society, research and innovation.

Both parties have reconfirmed the importance of their relations and cooperation, by jointly agreeing on new Partnership Priorities that will further lead their work for the coming three years. Those set the basis for further strengthening EU-Egypt cooperation in areas of common interest and concern, notably economic reforms, governance, human rights, rule of law and efforts towards a more open society but also migration and security/counterterrorism, as well as closer dialogue and cooperation on regional issues.

Background

In line with the renewed European Neighbourhood Policy, the EU-Egypt Country report covers the cooperation between the EU and Egypt for the period January 2015 – May 2017. It assesses the achievements and policy developments in Egypt with a focus on priority areas of EU-Egypt cooperation, as included in the new EU-Egypt Partnership Priorities jointly agreed in December 2016. The latest are to be adopted during the upcoming Association Council.

At the end of the reporting period, total ongoing EU financial assistance commitments to Egypt amounted to over EUR 1.3 billion in grants, with around 45% targeting economic and social development including employment creation; 45% devoted to renewable energy, water and sanitation/waste management and environment, and, 10% dedicated to improving governance, human rights, justice and public administration. This work is carried out in parallel with efforts to help the most vulnerable and to support civil society, paying particular attention to youth and women.

In 2015 and 2016, EUR 250 million of new bilateral EU funding was committed to Egypt from the bilateral envelope of the European Neighbourhood Instrument (ENI) and the financial envelope of the Neighbourhood Investment Facility (NIF). The combined volume of EU, Member States and European Financial institutions financial assistance to Egypt in its different forms (grants, loans and debt swaps) positions Europe as the first and most significant donor in Egypt with a volume of ongoing European financial assistance to Egypt of over EUR 11 billion.

Copyright European Union, 1995-2017

SOURCE European Commission