Brussels, 20/06/2013 (Agence Europe) - While, on 18 June, the European Court of Auditors criticised EU aid to Egypt, describing it as well-intentioned but ineffective (see EUROPE 10869), High Representative of the EU for Foreign Affairs and Security Policy Catherine Ashton stated on 19 June that the EU supports the country in different ways. “If you look at all of the different ways in which the European Union supports Egypt, there are different aspects of the support we give”, she said at the end of a meeting in Cairo with the Egypt's Foreign Affairs Minister Kamel Amr.
Although the EU puts “a lot of emphasis on supporting the poorest people in [Egypt's] population” and the money comes through European projects and programmes, the EU also tries “to encourage investment from industry” and to encourage “the growth of small and medium-sized businesses, which is the backbone of any economy”. “Some of the money is of course linked to the IMF [on obtaining an agreement between Egypt and the International Monetary Fund for a loan] and linked to the way in which things are going to move forward”, Ashton stated. During the EU-Egypt taskforce on 14 November 2012, the EU promised €5 million to Cairo. For the moment, however, no funds have been paid out - be they in terms of aid or loans (see EUROPE 10730).
“We want to see this country moving forward to see the kind of developments that are going to be so necessary and to back it with our resources”, Ashton added. (CG/transl.fl)