CAIRO, June 4 – Egypt expects to receive €1.5 billion ($1.72 billion) from the European Union in the coming days as the first of two remaining disbursements under a €5 billion macro-financial assistance package, Foreign Minister Badr Abdelatty said.
Speaking during a joint press conference with European Commissioner for the Mediterranean Dubravka Šuica in Egypt’s New Administrative Capital, Abdelatty said the outstanding €3 billion under the programme would be released in two equal tranches of €1.5 billion each.
The financing forms part of the European Union’s broader economic support for Egypt as the country continues implementing economic reforms aimed at strengthening macroeconomic stability, improving public finances and supporting long-term growth.
The macro-financial assistance package is designed to help Egypt address external financing needs while reinforcing economic resilience amid ongoing global economic uncertainty.
The upcoming disbursement represents another step in deepening economic cooperation between Egypt and the European Union, one of the country’s largest development and investment partners.
