The European Commissioner for the Mediterranean, Dubravka Šuica, visited Egypt on Sunday 2 March to “reaffirm EU’s commitment in supporting Egypt at this pivotal time. Egypt is not just a key partner - it is a cornerstone of regional stability, security, and economic cooperation”, said the Commission in a press release.
The visit was also an opportunity to present his vision of the new ‘New Pact for the Mediterranean’, currently under preparation. Commissioner Šuica met with Abdel Fattah Al-Sisi, President of Egypt, Mostafa Madbouly, Prime Minister of Egypt, Badr Abdelatty, Minister of Foreign Affairs, Emigration and Expatriates, and Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation.
She signed together with the Egyptian Government a loan worth €90 million for the project ‘Egypt Food Resilience’, supported by the EU and the European Investment Bank.
The Commissioner also “reaffirmed the strong ties between the EU and Egypt and took stock of the implementation of the Strategic and Comprehensive Partnership in areas such as economic cooperation, trade and investment, energy and clean technology, climate adaptation, security and migration management”.
Also discussed was Egypt’s political and economic reforms, in line with the EU’s macro-financial assistance programme, reforms that are “fundamental in leveraging an additional €1.8 billion in investments under the European Fund for Sustainable Development+ until 2027”.
For its part, Egypt has asked for the disbursement of the second instalment of a €4 billion financial package promised by the EU to be accelerated, local media reported. “We look forward to working with the European Commissioner to support cooperation with the EU and implement the six pillars of the Strategic and Comprehensive Partnership”, said the head of Egyptian diplomacy.
Egypt received the first instalment of €1 billion in January. This is the first phase of funding worth €5 billion that will be made available to Egypt until 2027. The EU has promised Egypt financial aid worth €7.4 billion over three years.
This aid includes €5 billion in loans, €1.8 billion in investments, €400 million in aid for bilateral projects and €200 million in aid for programmes dealing with migration issues. (Original version in French by Solenn Paulic)