Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro ($8 billion) aid package for the cash-strapped Middle Eastern nation.
The March aid package includes both grants and loans over the next three years for the Arab world’s most populous country. Most of the funds — 5 billion euros ($5.4 billion) — are macro-financial assistance to help Egypt shore up its economy, which is hit by a staggering shortage of foreign currency and soaring inflation.
