EU prepares €7.4B financing aid for Egypt

Updated 3/13/2024 8:33:00 AM
EU prepares €7.4B financing aid for Egypt

Arab Finance: 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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