Egypt expects to receive €1.5 billion ($1.72 billion) from the European Union in the coming days, the first of two remaining tranches of a €5 billion macro-financial assistance package, Foreign Minister Badr Abdelatty says.
Speaking at a press conference in Egypt’s new administrative capital alongside European Commissioner for the Mediterranean Dubravka Suica, Abdelatty says the outstanding €3 billion will be disbursed in two equal tranches of €1.5 billion each.
He says Cairo hopes the last payment will be transferred by the start of the autumn.
The EU has so far disbursed €2 billion of the package, having transferred an initial €1 billion tranche in January 2025 and a second €1 billion earlier this year.
The macro-financial assistance forms part of a broader €7.4 billion funding deal the EU announced in 2024, which also includes €5 billion in concessional loans.
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