Wednesday, March 23rd, 2011
European organizations and institutions are looking for ways to support the economic and political reforms in Egypt and the Middle Eastern region.
This was one of the central goals of the European Commission and the High Representative of the Union for Foreign and Security Policy’s forum on “Partnership for Democracy and Shared Prosperity with the Southern Mediterranean” in Brussels on March 11.
“The European Union has the experience and tools to help countries in the Arab region as they make the journey to deep democracy,” said Catherine Ashton, the Vice-President and High Representative of the Union for Foreign Affairs and Security Policy.
During her speech in Brussels, Catherine Ashton emphasized that the European Investment Bank (EIB) could provide approximately 6 billion Euros to the Mediterranean region in the coming three years if the Council approves the additional lending envelope of 1 billion Euros, as recently proposed by the European Parliament. The EU proposed to double their investment in Egypt through infrastructure projects to create job opportunities for Egyptian youth.
But Egypt must make the first move. “It would be premature to announce a support package for Egypt until Egyptian authorities make a specific request for assistance that prioritizes needs,” said Mario David, the European Parliament’s Chair of Delegation for Mashreq (East North African) countries.
