Samir Radwan, the Finance Minister in Egypt's caretaker government, called on the European Union on Sunday to consider writing off the loans that have been granted to Egypt and disburse unconditional grants to the Egyptian government.
Following a meeting with EU Commission President in Cairo Marc Franco, Radwan said his request was compatible with the policies of creditor nations in order to lift the burden on the state budget, which reflects positively on citizens' living conditions.
Radwan added that he had also discussed with Franco the government's plan to achieve rapid growth and create more job opportunities, explaining that the plan aimed to provide employment opportunities through the immediate launch of projects that have a "positive and fast impact," as well as projects aimed at improving national infrastructure.
The government would also devise mechanisms for facilitating and encouraging small businesses, as well as reforming the overall business environment.
For his part, Franco stressed that the EU supported Egypt at this "critical stage," which requires the rebuilding of the Egyptian economy and the creation of more employment opportunities.
He added that the economic reforms undertaken in the past years–and the resultant high growth rates–had laid "strong foundations" for the Egyptian economy, allowing it to overcome the repercussions of the global financial crisis and withstand the negative effects of the current political crisis.
Franco noted that the EU hopes that economic reform would continue and would be felt by the ordinary citizen, which had not been the case previously.
