On Thursday 20 March, the European Parliament’s Committee on International Trade (INTA) approved two proposals to offer Jordan and Egypt preferential loans of €500 million and €4 billion respectively.
Approved by a large majority of MEPs (28 votes in favour, seven against and five abstentions), macro-financial assistance for Egypt is part of a global partnership agreement signed in March 2024 between the European Union and the Egyptian authorities (see EUROPE 13373/6). Planned to be disbursed in three instalments, it is intended to help the country deal with its “critical economic and financial situation”, according to the European Parliament. A short-term loan of €1 billion has already been disbursed to Cairo at the end of 2024 (see EUROPE 13550/18).
With regard to Jordan, the EU’s macro-financial assistance proposed in April 2024 will aim to cover part of the country’s financing needs and support its structural reforms as well as the consolidation of national public finances (see EUROPE 13386/12). In January, the EU and Amman sealed a comprehensive strategic partnership worth €3 billion (see EUROPE 13568/19). (Original version in French by Mathieu Bion)