Egypt to Receive €1.5 Billion from EU Assistance in Coming Days
Details of the EU Macro-Financial Assistance to Egypt
Overview of the Upcoming Disbursement
DUBAI, July 4 (Reuters) - 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.
Press Conference Highlights
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.
Timeline for Remaining Payments
He said Cairo hoped the last payment would be transferred by the start of the autumn.
Background of the EU-Egypt Funding Deal
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.
Components of the Financial Package
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.
Exchange Rate Information
($1 = 0.8745 euros)
Reporting Credits
(Reporting by Ahmed Elimam and Eman Abouhassira; Editing by Jan Harvey)
