Egypt says EU to fund 500 mln euros of development projects
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Egypt's government has signed agreements with the European Union for around 500 million euros ($582 million) in funding for development projects over the next three years, the Egyptian cabinet said in a statement on Monday.
A year ago, Egypt signed up to a broad, three-year $12 billion IMF programme that calls for cuts in its state subsidy programmes and some tax hikes to overhaul an economy hit hard by the instability that followed its 2011 uprising.
