The signs are good that Egypt and Germany have formulated a means by which Germany can provide Egypt with both tax relief and financial assistance.
According to Ahmed Darsh, the Egyptian planning and international cooperation minister, the two countries are close to sign an agreement according to which Germany agrees that part of the money owed to it by Egypt will be allocated to funding development projects in Egypt instead.
The proposal originally had been made during the visit to Egypt in October by the German chancellor, Gerhard Schroeder. Reportedly, the development projects that will benefit from this move will be created within the framework of Germany’s 2001 aid program. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
