Egypt is about to receive 1,5 billion euros from the European Union

Egypt is expected to receive a €1,5 billion disbursement from the European Union in the coming days as part of its macro-financial assistance program, Egyptian Foreign Minister Badr Abdelatty announced on Saturday. This sum constitutes the first of the last two tranches planned under this aid package.

At a press conference held in Egypt's new administrative capital alongside European Commissioner for the Mediterranean, Dubravka Suica, the minister specified that the remaining 3 billion euros would be paid in two equal installments of 1,5 billion euros each.

The Egyptian government hopes the final disbursement will arrive by early autumn. This new aid is part of the ongoing financial support provided by the European Union to the country.

To date, the European Union has already disbursed 2 billion euros under this program, with an initial payment of 1 billion euros in January 2025, followed by a second tranche of the same amount earlier this year.

This €5 billion macro-financial assistance program is part of a larger financing agreement concluded between the European Union and Egypt in 2024. Totaling €7,4 billion, this agreement also includes €5 billion in concessional loans to support the Egyptian economy.