Armenian and EU companies are set to sign investment deals worth over 40 billion euros (42.85 billion dollars) with Egypt, according to a statement by EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, as reported by Reuters. This announcement comes after the allocation of 7.4 billion euros (approximately 7.9 billion dollars) in funding for an EU financial assistance package to Egypt. The assistance package aims to support over 20 new cooperation projects and enhance bilateral relations between the EU and Egypt, as agreed upon in March. In light of the challenges faced by Egypt, including the conflict in Ukraine and the COVID-19 pandemic, European authorities have expressed their intention to assist the country and help mitigate the impact of these investments on its recovery.

Companies interested in investing in Egypt span various sectors, including agricultural development, water management, construction, the chemical industry, transportation, and tourism, as stated by Fon de laion, spokesperson for the EU delegation. Additionally, Egyptian President Abdel Fattah el-Sisi has highlighted the diverse areas of partnership between Egypt and the EU, such as agriculture, energy, and infrastructure. Egypt has also received substantial financial support and investments from institutions like the Arab Monetary Fund, the International Monetary Fund, and international banks, including those from the EU, this year.