EU Parliament Committee Approves €4 Billion Funding for Egypt

 Egypt's Foreign Minister Badr Abdelatty announced that the European Parliament's International Trade Committee has approved the second tranche of the European Union's financial assistance package to Egypt, worth €4 billion.

A final vote on the funding is expected to take place in the full European Parliament in the coming weeks.

The total value of the EU package stands at €7.4 billion, a commitment made by the EU to Egypt over the coming years following the elevation of their relations to a **Comprehensive Strategic Partnership** in March 2024.

Egypt had already received the first tranche of the package, amounting to €1 billion, in December 2024. The financial support aims to strengthen cooperation between Egypt and the EU in various economic and developmental sectors.

This funding comes as part of broader efforts to bolster Egypt's economic stability and enhance collaboration on trade, investment, and regional security. The EU and Egypt have deepened their ties significantly in recent years, with both sides recognizing the strategic importance of their partnership.