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Germany pledges 500 mln USD in support of Egypt's economy

Xinhua, March 4, 2017 Adjust font size:

Germany will provide Egypt with 250 million U.S. dollars in support of its economic program, in addition to another 250 million dollars, said Ministry of Investment and International Cooperation in statement on Friday.

"The German step meant to give a push to Egypt's micro, small and medium-sized enterprises, and to support the Egyptian workforce with more training," Minister of Investment and International Cooperation Sahar Nasr said at the meeting of the Egyptian-German Business Forum which was held on late Thursday.

During the meeting, Nasr told the German businessmen that the government is keen on improving the investment climate in Egypt and overcoming all obstacles facing foreign investors.

She expressed hope that Germany's ranking, which is currently occupies the 20th position on the list of countries investing in Egypt, would go up in the coming period.

German Chancellor Angela Merkel on Thursday asserted here that Egypt is a key economic partner to Germany and voiced keenness of the German companies to increase investments in Egypt. Endit