Brussels – The European Commission has provided 1 billion euros in macro-financial assistance to Egypt, an important commitment of the EU-Egypt Strategic Comprehensive Partnership signed in March 2024. This financial support is the first of the expected three installments under the ongoing 4 billion euro program.
In its assessment, the Commission concluded that Egypt fulfilled all the required conditions for disbursement, namely the agreed economic policy conditions and the adoption of “concrete and credible measures” to respect effective democratic mechanisms, including a multi-party parliamentary system, uphold the rule of law, and ensure respect for human rights.
“Today’s €1 billion disbursement recognizes the progress Egypt has made in implementing important reforms that will help place its economy on a more sustainable path,” said Economy Commissioner Valdis Dombrovskis. “At a time of growing geopolitical fragmentation, Egypt remains a strategic partner for the European Union. The support provided through our Macro-Financial Assistance programme underpins the strength and depth of our partnership.”
English version by the Translation Service of Withub
