Egypt to receive €1.5 billion EU disbursement soon
via Egypt Today1 min read
Egypt is set to receive €1.5 billion, approximately $1.72 billion, from the European Union in the coming days, as announced by Foreign Minister Badr Abdelatty. This payment is the first of two remaining tranches from the EU's €5 billion macro-financial assistance program for Egypt. Abdelatty stated that the remaining €3 billion will be disbursed in two equal installments of €1.5 billion each, with the final tranche expected by early autumn. The EU has already provided €2 billion under this program, including an initial €1 billion in January 2025 and another €1 billion earlier this year. This macro-financial assistance is part of a larger €7.4 billion financing package announced by the European Union in 2024, which includes €5 billion in concessional loans.
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