On Friday 12 April, the Economic and Financial Affairs Council approved short-term macrofinancial assistance to Egypt of up to €1 billion, to be disbursed in the form of loans under favourable terms made available in one instalment.
The aid is meant to address the deteriorating macro-fiscal situation and financing needs of the country over the recent months, notably after the outbreak of the Gaza war, the Houthi attacks in the Red Sea and the repercussions of Russia’s war of...