EU to provide Egypt with 7.4 billion euros over three years, says official

The European Union will provide Egypt with 7.4 billion euros ($8.06 billion) in financing from 2024-2027 under a deal for expanded cooperation to be announced in Cairo on Sunday, a senior EU Commission official said.

The European Union will provide Egypt with 7.4 billion euros ($8.06 billion) in financing from 2024-2027 under a deal for expanded cooperation to be announced in Cairo on Sunday, a senior EU Commission official said. The money will include 5 billion euros of macro-financial assistance, 1.8 billion euros of investments and 600 million euros in grants, the official said.

Of the macro-financial assistance, 1 billion euros of emergency finance will be provided in 2024, the official said. ($1 = 0.9185 euros)