On Friday 20 December, the European Commission announced the forthcoming disbursement to Egypt of a one-off loan tranche of €1 billion as part of the macro-financial assistance granted by the European Union in April (see EUROPE B13390A10).
This financial aid is intended to cover part of the budgetary needs of this Mediterranean third country and to support the implementation of a reform programme agreed in cooperation with the IMF.
According to the Commission, Egypt has taken the...