The European Union has released fresh funding to support Egypt’s economy, reforms, and financial stability amid regional and global pressures.
The European Commission has disbursed €1 billion (about $1.16 billion) to Egypt, marking the first of three planned payments under its €4 billion Macro-Financial Assistance (MFA) programme. The funding is aimed at helping Egypt meet urgent financing needs, stabilise its economy, and ease balance-of-payments pressures.
EU officials said the support will help offset economic shocks linked to Russia’s war in Ukraine, instability in the Middle East, and disruptions from Houthi attacks in the Red Sea. The payment follows a broader €5 billion MFA agreement signed in March 2024, which included an earlier €1 billion short-term disbursement at the end of 2024.
European Commission President Ursula von der Leyen said the funds support economic stability, democracy, sustainability, and the rule of law. Egypt says it has implemented 38 reform measures under its partnership with the EU, with the remaining €3 billion to be released in two tranches in 2026.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
