Egypt has started negotiations with the European Union (EU) to obtain €4 billion (EGP 208 billion) in financing, with expectations to conclude the agreement in June, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat told Asharq Business.

This falls under the structural economic reforms program implemented by the government to support the budget.

The program includes three main axes: maintaining macroeconomic stability, providing a supportive business environment, reinforcing the private sector, and driving green transformation.

On the sidelines of the 55th annual World Economic Forum (WEF) meeting in Davos, Al-Mashat highlighted that the loan would be utilized to support the budget and not projects during 2025.

The expected financing is part of the EU's €5 billion package to back Egypt's growth plans, €1 billion of which the government has already secured at the end of December 2024.

In 2024, the two sides penned an agreement for the €7.4 billion financial package, to be received in the form of grants and loans until the end of 2027.

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