Egypt says it expects to receive $1.7 billion (€1.5 billion) from the European Union within the next few days as part of a broader financial assistance package aimed at supporting the country’s economy and ongoing reform programme.
Speaking alongside the European Commissioner for the Mediterranean, Foreign Minister Badr Abdelatty said the payment will be the first of two remaining instalments under the EU’s €5 billion macro financial assistance programme. The remaining €1.5 billion is expected to be released by the beginning of autumn.
The European Union has already disbursed €2 billion to Egypt, including an initial €1 billion in January 2025 and another €1 billion earlier this year. The latest funding forms part of a wider €7.4 billion partnership package announced in 2024, which includes concessional loans, investment guarantees, and technical support designed to strengthen Egypt’s economy and deepen cooperation with the EU.
The financial support comes as Egypt continues implementing economic reforms under an International Monetary Fund backed programme to stabilise public finances, curb inflation, and attract foreign investment. The country has faced significant economic challenges in recent years, including high inflation, foreign currency shortages, and declining revenues from the Suez Canal due to disruptions in Red Sea shipping.
The European Union considers Egypt a key strategic partner because of its role in regional security, migration management, and Mediterranean stability. Officials say the continued financial assistance reflects the bloc’s commitment to supporting Egypt’s economic resilience while strengthening political and economic ties between both sides.
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