The European Parliament earlier this week approved a €4 billion macro-financial assistance package for Egypt, marking the second tranche of EU support aimed at helping to revive the country’s economy.
The decision, passed during a plenary session in Strasbourg after nearly nine months of deliberations in the Committees on International Trade, Foreign Affairs, and Budget, comes as Egypt continues to grapple with major economic challenges.
Egypt’s ambassador to the European Union, Ahmed Abu Zeid, welcomed the largely favourable vote, describing it as the outcome of sustained diplomatic engagement with members of the European Parliament and political groups to emphassze the strategic importance of the Egypt–EU partnership.
He stated that the aid reflects the shared interests between the two sides and aims to strengthen long-term cooperation. Abu Zeid also highlighted Egypt’s central role in ensuring stability in the Middle East and Africa, a key element in its relations with Europe.
Before the funds are disbursed, the package still requires formal approval by the Council of the European Union in the coming days.
The financial assistance is intended to bolster Egypt’s economic resilience in the face of global shocks and to support its medium-term reform and development agenda.
SL/te/lb/as/APA