Israel to launch projects in Egypt to help its ‘fragile economy

Israeli newspaper Ynetnews, the English publication of Yedioth Ahronoth, published a report on Tuesday claiming that Israel is preparing a series of mega projects to assist “Egypt’s fragile economy”. The newspaper said that this step comes after years of economic separation.

The report continued that joint discussions on these large-scale projects not only reflect the good relations between the two countries, but also the compelling need for significant improvement of Egypt’s economy, as its current state is threatening the country’s political stability.

After the signing of a peace agreement between Egypt and Israel in 1979, a boost in economic cooperation between the two countries occurred; however, that cooperation gradually decreased due to Egypt’s lack of interest, according to the report.

Citing Ynetnews’ report, Israel recently showed interest in several large-scale projects with Egypt, including desalinisation of seawater due to the potential drinking and irrigation water shortage that Egypt may face as a result of a low water levels in the Nile river.