Egypt expects €1.5bn from EU in coming days

Egypt expects to receive €1.5 billion ($1.72 billion) from the European ​Union in the coming days, ‌the first of two remaining tranches of a €5 billion macro-financial assistance package, Foreign ​Minister Badr Abdelatty said ​on Saturday.

Speaking at a press conference ⁠in Egypt's new administrative capital ​alongside European Commissioner for the Mediterranean ​Dubravka Suica, Abdelatty said the outstanding €3 billion would be disbursed in two equal tranches ​of €1.5 billion each.

He said Cairo ​hoped the last payment would be transferred ‌by ⁠the start of the autumn.
The EU has so far disbursed €2 billion of the package, having transferred an ​initial €1 billion ​tranche ⁠in January 2025 and a second €1 billion earlier this ​year.

The macro-financial assistance forms ​part ⁠of a broader €7.4 billion funding deal the EU announced in 2024, which ⁠also ​includes €5 billion in ​concessional loans.

-Reuters