EU-Egypt Global Strategic Partnership Agreement Worth €7.4 Billion Signed in March
The EU-Egypt global strategic partnership agreement, worth €7.4 billion, signed in March, includes €5 billion in loans, with €1 billion to be disbursed before the end of 2024, €1.8 billion in investments, €400 million in aid for bilateral projects, and €200 million in aid for programs addressing migration issues.
Egypt Reiterates Commitment to Improving EU Relations
In an interview with European Commissioner for the Mediterranean Dubravka Šuica, Egyptian Foreign Minister Badr Abdelatty reiterated Egypt's willingness to continue improving its relations with the EU and called on the Croatian official to accelerate the disbursement of European funding agreed upon in March, according to an official statement released on Monday, December 16.
"It is essential to implement the results of the EU-Egypt Investment Conference held in June 2024 in Cairo, which resulted in the signing of 29 agreements worth approximately €49 billion. He stressed the need to accelerate the implementation of the European financing program for Egypt, worth €7.4 billion (...). This includes the disbursement of the first tranche of €1 billion and the approval of the second tranche of €4 billion by the European Parliament," the Egyptian Ministry of Foreign Affairs assured.
