Egypt expects €1.5B EU payment under support package
Egypt said on July 4 it expects to receive 1.5 billion euros ($1.77 billion) from the EU within days as part of a broader 7.4 billion-euro financial support package.
The announcement came during a joint news conference in Cairo between Egyptian Foreign Minister Badr Abdelatty and EU Commissioner for the Mediterranean Dubravka Suica.
Abdelatty said Suica’s visit reflects growing momentum in Egypt-EU relations, with talks focusing on expanding economic and investment cooperation and implementing the EU support package.
He said the package includes 5 billion euros in general budget support for Egypt.According to Abdelatty, the EU has already disbursed 2 billion euros, while the remaining 3 billion euros will be released in two installments.
