Sharm El-Sheikh – Mubasher: The European Union said it is committed to providing a financial aid package worth more than 1 billion euros for Egypt’s economy in various sectors.

More than half of the aid package will be in human and social development including education and healthcare, the EU added.

Meanwhile, more than one third of the aid will go for infrastructure and environment protection. The remaining portion will be injected in initiatives for economic development, trade and innovation, in addition to human rights.

The Egypt Economic Development Conference (EEDC) was inaugurated on Friday in the Red Sea resort of Sharm El-Sheikh. The summit aims to attract more foreign investments to support the country’s stalled economy.