Egypt expects €1.5bil from EU aid package in coming days, says minister
Egypt’s foreign minister Badr Abdelatty said the outstanding €3 billion in EU financial support will be disbursed in two equal tranches of €1.5 billion each. (AFP pic)
DUBAI: Egypt expects to receive €1.5 billion (US$1.72 billion) from the EU in the coming days, the first of two remaining tranches of a €5 billion macro-financial assistance package, foreign minister Badr Abdelatty said today.
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.
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