EU expands financial support for Egypt with new $1. 7 billion disbursement - EUROPE SAYS
The European Union (EU) is set to provide Egypt with a further EUR1. 5 billion ($1. 7 billion) this month as part of its ongoing support for the country’s economic reform programme, reinforcing a broader. . .
The European Union (EU) is set to provide Egypt with a further EUR1. 5 billion ($1. 7 billion) this month as part of its ongoing support for the country’s economic reform programme, reinforcing a broader strategic partnership between Cairo and Brussels. European Commission President Ursula von der Leyen announced the latest disbursement following talks with Egyptian President Abdel Fattah El-Sisi on the sidelines ofthe G7 summit, describing Egypt as “a central and stable partner for Europe in a region in turmoil. ” The funding represents the latest instalment of the EU’s macro-financial assistance program, which is designed to support economic stability and reform efforts while strengthening long-term cooperation between the two sides. Read more: EU and Egypt seal $798. 8 million renewable energy deal to upgrade power grid, targeting 22 GW of renewables by 2030Long-term financial supportThe upcoming payment follows two previous EUR 1 billion disbursements made in January 2025 and January 2026, bringing the total amount of macro-financial assistance provided to Egypt under the program to EUR3. 5 billion ($4 billion). The financing forms part of the EUR 5 billion macro-financial assistance package included within the wider EUR 7. 4 billion ($8. 5 billion) EU-Egypt Strategic and Comprehensive Partnership, which was signed in March 2024. Beyond direct financial support, the broader partnership also includes EUR 1. 8 billion in investment agreements alongside EUR 600 million in grants, reflecting the European Union’s long-term commitment to supporting Egypt’s economic development, investment climate and reform agenda. Tags:EconomyEconomy of EUEconomy of European UnionEconomy of the EUEconomy of the European UnionEU economyEurope