Speaking at a press conference in Cairo alongside the EU’s top diplomat Kaja Kallas, Abdelatty said Egypt hopes the first tranche, worth $1.17 billion, will be transferred in the coming days, after Cairo completed its fifth and sixth programme reviews with the International Monetary Fund.
The EU announced in 2024 a $8.1 billion funding package for Egypt, including $5.83 billion in concessional loans. Egypt received the first $1.17 billion tranche in January.
The package also includes investments and grants, and was partly a response to Egypt’s worsening financial position following the Gaza war, Houthi attacks in the Red Sea and the economic fallout from the war in Ukraine.
–Reuters–
