Investment Minister Mohamed Farid says Egypt is implementing reforms to improve the business climate and attract investment.
The approval came during a plenary session chaired by Speaker Hesham Badawi, following the presentation of the new ministers and discussion of their work plans.
This funding is part of a €7.4 billion financial package announced during the Egypt-EU summit in March, attended by President Abdel Fattah El-Sisi and European Commission President Ursula von der Leyen.
Egypt prepares for President Abdel Fattah el-Sisi's constitutional oath before the House of Representatives.
