Magazine article Europe-East

Eu/egypt : Eu, Cairo Sign Memorandum on Energy Cooperation

Magazine article Europe-East

Eu/egypt : Eu, Cairo Sign Memorandum on Energy Cooperation

Article excerpt

Commissioners Benita Ferrero-Waldner (external relations) and Andris Piebalgs (energy) signed a memorandum of understanding, on 2 December, with Egypt's Foreign Minister Ahmed Aboul Gheit, which lists five priorities for cooperation. These are development of a comprehensive Egyptian energy strategy, including institutional capacity building and energy market reforms; gradual convergence of Egyptian energy markets with the EU; comprehensive policy and relevant projects for energy demand management, energy efficiency and renewable energy sources; development of networks improving energy security in the EU and Egypt; and enhancing technological, scientific and industrial cooperation.

LOW LEVELS OF CURRENT AID

Current EU energy aid for Egypt, under the 2007-2010 Community assistance plan, includes support for energy sector reforms, notably legal and regulatory approximation as well as institution building. Other elements include interest rates subsidies for loans from the European Investment Bank and other financial institutions so as to promote investment in energy through. Currently, however, aid only amounts to almost 12 million in bilateral support and 20 million for regional aid. This includes supporting the Egyptian Electric Utility and Consumer Protection Regulatory Agency, notably in the form of technical assistance for capacity-building as well as support for the preparation of manuals and regulations ahead of planned energy market liberalisation from 2009. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.