The EU unveiled a broader €7.4 billion support package for Egypt in 2024, which includes €5 billion in concessional loans.
Egypt is set to receive the remaining €4 billion, from a €5 billion macro-financial assistance package agreed with the European Union, to be released in three installments through 2027, according to Minister of Foreign Affairs, Badr Abdelatty.
Speaking at a Cairo press conference alongside the EU’s chief diplomat Kaja Kallas, Abdelatty said Egypt expects the first €1 billion tranche to be transferred shortly, following the completion of its fifth and sixth reviews under the program with the International Monetary Fund.
The EU unveiled a broader €7.4 billion support package for Egypt in 2024, which includes €5 billion in concessional loans. Egypt already received the initial €1 billion in January.
Beyond loans, the package also features grants and investment components. It was designed in part to help Egypt manage mounting economic pressures stemming from the Gaza war, disruptions to Red Sea shipping linked to Houthi attacks, and the wider economic fallout from the conflict in Ukraine.
