Egypt, EU sign $4.63bn MoU for 2nd phase of Macro-Financial Assistance

RIYADH: Egypt and the EU have signed a €4 billion ($4.63 billion) agreement to launch the second phase of the Macro-Financial Assistance and Budget Support Mechanism, aimed at strengthening the country’s macroeconomic resilience. The agreement was signed during the Egyptian-European Summit in Brussels and witnessed by President Abdel Fattah El-Sisi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa.

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