Cairo – Mubasher: Financial foreign grants declined 65.7% to EGP 2.68 billion ($342 million) from EGP 7.825 billion ($966 million) in the first half of 2015/16, the Egyptian Ministry of Finance stated.
Foreign governments and international organizations pledged Egypt EGP 7.79 billion and EGP 7.5 billion, the Ministry said, adding that EGP 29.3 million was collected from other grants.
Arab financial aids contributed to the increase in foreign grants in 2013/14 and 2014/15 that reached EGP 95.8 billion and EGP 24.9 billion correspondingly.
