Egypt Expects Approval of EU's Second Funding Tranche of €4 Bln within Weeks

The European Parliament's International Trade Committee approved the second tranche of the EU's €4 billion funding package for Egypt.

Egyptian Foreign Minister Badr Abdel Aty said on Sunday, "We expect it to be voted on in the European Parliament in the coming weeks, and we hope it will proceed smoothly." He noted that Egypt received the first €1 billion tranche of the package last December.

The total value of the package is €7.4 billion, representing the aid the European Union has pledged to provide to Egypt over the coming years, after upgrading relations between the two sides to a comprehensive strategic partnership in March 2024.

Abdel Aty's statements came during a joint press conference with EU High Representative for Foreign Affairs and Security Policy Kaya Kallas in Cairo.

The Egyptian minister indicated that he and Kallas agreed to activate the political component of the strategic partnership by "holding the first Egyptian-European summit this year."