Minister of Investment and International Cooperation Sahar Nasr announced on Friday that Germany will provide $500 million to support the economic program for small and medium-sized enterprises in Egypt. Nasr added in a statement Friday that she agreed with Germany to provide $250 million to support the government's economic program, and $250 million to support micro, small, and medium-sized enterprises. A government official told Reuters, on condition of anonymity, that the German support will be in the form of grants and concessional funds. The agreement was concluded on Thursday evening, during the German-Egyptian business forum held for the visit of German Chancellor Angela Merkel to Egypt, according to Nasr.

Source: Egypt Independent March 03, 2017 15:10 UTC