EU prepares $8bln financing aid for Egypt

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The package includes grants and loans until the end of 2027

Staff Writer, Arab Finance

March 13, 2024

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The European Union (EU) is preparing a financing package valued at €7.4 billion for Egypt to boost its economy amid the current geopolitical risks in Gaza and Sudan, Financial Times reported.

The €7.4 billion package includes grants and loans until the end of 2027.

The EU could also provide another immediate €1 billion in emergency financing, in addition to €4 billion financial aid for the reforms under the expanded IMF program under discussion.

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