Egypt approves €1B macroeconomic support deal with EU
Updated 12/3/2024 9:00:00 AM
Arab Finance: Egypt’s House of Representatives has approved a €1 billion memorandum of understanding (MoU) signed between the government and the European Union (EU) to bolster macroeconomic and budget support, as per a statement.
The agreement, formalized through Presidential Decree No. 400 of 2024, is part of an expanded strategic partnership aimed at enhancing economic stability and encouraging investment in key sectors.
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat highlighted the agreement’s significance during the parliamentary session.
She emphasized that the deal reflects decades of robust cooperation between Egypt and the EU, reinforced during a high-profile summit in Cairo last March between President Abdel Fattah El-Sisi and European Commission President Ursula von der Leyen.
Related News
