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AzerNEWS Staff

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Egypt expects to receive €1.5 billion from the European Union in the coming days as part of a macro-financial assistance package, Foreign Minister Badr Abdelatty said during a joint press conference with European Commissioner for the Mediterranean Dubravka Šuica.

According to Abdelatty, the €1.5 billion payment will be the first of the two remaining installments under the EU's €5 billion macro-financial support package. The remaining €3 billion is expected to be disbursed in two equal tranches of €1.5 billion each.

The foreign minister said Cairo hopes to receive the final installment by early autumn.

The European Union has already provided Egypt with €2 billion under the package, including €1 billion transferred in January 2025 and another €1 billion disbursed this year.

The macro-financial assistance forms part of a broader €7.4 billion support package for Egypt announced in 2024. The package also includes €5 billion in concessional loans aimed at supporting the country's economy.

In addition to EU assistance, Egypt is also expected to receive further financial support from the International Monetary Fund (IMF). The IMF has given preliminary approval for a new $1.64 billion financing package to help Egypt address the economic challenges stemming from the war in the Middle East.