On the evening of Monday 19 May, representatives of the European Parliament and the Polish Presidency of the Council of the European Union reached a provisional political agreement on the EU’s future macrofinancial assistance to Egypt worth €4 billion over the period 2025-2027.
The loans, which will be disbursed in three instalments over a period of 35 years with a grace period for repayment, will be subject to the Egyptian authorities implementing a memorandum of understanding (MoU) to be agreed with the EU, and the 2024-2027 programme linking Cairo to the IMF.
Each year, the European Commission will be required to report on progress made through macrofinancial assistance, including on Egypt’s budgetary and economic situation and on measures taken to strengthen democracy, the Rule of law and human rights in the country.
In March 2024, the EU and the Egyptian authorities signed a comprehensive partnership agreement providing for European economic aid worth €5 billion (see EUROPE 13373/6), including a short-term loan of €1 billion paid to Cairo at the end of 2024 (see EUROPE 13550/18). (Original version in French by Mathieu Bion)