EU to Provide €1.5 Billion Support to Egypt

Egypt will receive €1.5 billion in macro-finance support from the European Union, as announced during a press conference. The funding will be disbursed in two equal tranches, with the first payment anticipated to be transferred in autumn.

This support aims to assist Egypt's new administration in managing outstanding financial obligations. The announcement was made alongside Dubravka Suica, a representative from the European Commission, highlighting the EU's commitment to supporting Egypt's economic stability.

The financial assistance is part of broader efforts to strengthen ties between Egypt and the EU, particularly in the Mediterranean region.