CAIRO: European Union members might be willing to assist Egypt in the area of nuclear security, but will not fund the building of nuclear plants, according to Commissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner. "We might be able to assist Egypt in the safety of nuclear energy, that is our area of expertise, the commissioner said, "[but] of course we would not pay for the building of nuclear plants. "We know very well that Egypt is a member of the nuclear non-proliferation treaty (NPT) and are willing to fulfil the obligations of the NPT and that is a basis, Ferrero-Waldner said, "we are working on an energy memorandum of understanding that will be comprehensive. Egypt has recently announced its intention to resume its dormant nuclear power program, and has promised to comply with guidelines set by the International Atomic Energy Agency. Ferrero-Waldner was speaking at a press conference in Cairo Wednesday before heading off to Sharm El Sheikh to co-host the EU-Middle East-Africa Energy Ministerial Conference with Foreign Minister Ahmed Aboul Gheit. Under the umbrella of the European Neighbourhood Policy, Egypt will receive 558 million euros to aid development goals set by the Egyptian government. The commissioner highlighted the breakdown of the endowment, which would include 220 million euros for the support of Egyptian reform processes and 120 million euros in the field of sustainable development. Fifty-eight million euros will be offered to subsidize loans from the European Investment Bank and 40 million euros will be granted to support Egypt's political package, according to the commissioner. "Egypt plays a central role as a bridge for Africa, the EU and the Mediterranean basin, Ferrero-Waldner said, pointing out that Egypt was the sixth biggest supplier of natural gas to the EU. The EU Commissioner met with President Hosni Mubarak earlier Wednesday as well as Chief of Intelligence Omar Suleiman and Aboul Gheit, having spent the two days prior on an official visit to Palestine, Israel and Jordan. In her third bilateral visit to Cairo in her present role, Ferrero-Waldner was hosted for a luncheon by the Egyptian-European Economic Council prior to the press conference. Head of the Egyptian-European Economic Council Mohammed Aboul Einen said at the press conference, "Energy is an important issue which concerns the national security of all countries. [The conference goals] will not be traditional initiatives, the relations between North and South must be restudied.
