EU to review aid package for Egypt

imgAs ambassadors from the 28 members of the European Union gather in Brussels to “urgently review” a €5 billion aid package to Egypt, the interim government in Cairo has criticised the move.

The Foreign minister, Nabil Fahmy, was defiant and accused the west of interfeering in Egypt’s internal affairs.

On Sunday, Presidents Barroso and Van Rompuy said “There is no alternative to dialogue. All the Egyptian political forces must recommit to the country’s democratic future and engage in a political process leading to the early holding of elections and the establishment of a civilian government. This was also the commitment proclaimed by the interim Government when it assumed power. The Egyptian Army must respect and support such a political process.”

Half of the €5 billion from Europe was to be provided by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

However, in the current chaotic situation it would be hard to see how funds sent could be used for their stated purposes.

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