Egypt, EU anticipate €4 billion funding deal in H2 2025

Egypt is set to sign a memorandum of understanding with the European Union for a €4 billion financing package later this year, as announced by Planning Minister Rania Al-Mashat. This funding is part of a larger €7.4 billion agreement established in March 2024, aimed at bolstering Egypt's economy and managing migration across the Mediterranean. Al-Mashat indicated that discussions with EU representatives have been ongoing, and she anticipates formal adoption by June. Egypt has already received €1 billion from this package in January, with the remaining €5 billion pending approval from the European Parliament. The financial assistance comes in light of Egypt's worsening economic conditions due to various geopolitical crises, including the Gaza war and the conflict in Ukraine. Additionally, Egypt has secured a significant investment deal with the UAE and expanded its IMF program to $8 billion to further stabilize its economy.