UK Announces £13m Fund to Support Egypt Through WB

The United Kingdom (UK) is supporting Egypt with a £13m fund, delivered by the World Bank (WB). This is a four-year expansion to the UK’s £15m technical assistance programme.

Through strong cooperation with Egyptian ministries, the programme will support Egypt’s macroeconomic stability and encourage investment. The programme also aims to promote inclusive economic growth in Egypt.

UK’s Minister for the Middle East and North Africa and Minister of State for International Development, Dr Andrew Murrison said: “Egypt is a country of significant importance to the UK. I am delighted to announce an expansion to our excellent programme with the WB. As a long-standing trade partner, this expansion reflects our commitment to support Egypt in implementing successful reforms and build a resilient economy.”

British Ambassador to Egypt Sir Geoffrey Adams said: “Our cooperation with Egypt continues to grow. This programme renews our pledge to invest in Egypt’s future, and to support its development priorities.”

Noteworthy, Murrison landed in Egypt today to discuss ways of boosting cooperation between Egypt and the UK.

The trade exchange between the two countries of Egypt and the UK reached $1.33 billion in the first half of 2018, as the British investments in Egypt achieved $5.6 billion through many projects in various fields of services, industry, tourism, constructions, agriculture, finance, telecommunications, and information technology.

The relations also concern military business such as training, visits, access to the Commonwealth War Graves in Heliopolis and El Alamein, co-ordination overflights and Suez Canal transits for warships.

In 2010, after long negotiations with the University of London, Egypt retrieved 25 000 ancient artifacts, some dating back to the Stone Age. The artifacts include a rare spearhead as well as pottery from the seventh millennium BC, which bears the fingerprints of its producers.