EU’s technical mission to visit Egypt to discuss macroeconomic support

The European Union’s (EU) technical mission will visit Egypt today to be received by the Ministry of International Cooperation (MoIC) in order to discuss the mechanics of macroeconomic support and budget support. 

 

This visit is part of the strategic partnership between Egypt and the EU. During their time in Egypt, the mission will hold meetings with the Ministries of Finance, Social Solidarity, and representatives from the Cabinet of Ministers, as well as other relevant parties.

 

The mission's agenda also includes meetings with various national entities, such as the Ministries of Environment, Electricity, Labor, Planning, Trade and Industry, and the Central Bank of Egypt. 

 

Rania Al-Mashat, the Minister of MoIC, emphasized the importance of these meetings, noting that they reflect a comprehensive partnership aimed at achieving mutual strategic interests.

 

 She also highlighted that the cooperation with the EU complements the ongoing collaboration with the World Bank and the United Kingdom, to provide maximum support for Egypt's economic and structural reform efforts.

 

In March, the EU announced a proposed package of financial support and investments totaling €7.4 billion for the period of 2024-2027, as part of efforts to strengthen relations with Egypt. The announcement was made during the EU-Egypt Summit held in Cairo.

 

The comprehensive package includes €600 million in grants, with a specific allocation of €200 million for migration management. Additionally, €5 billion will be provided in the form of soft loans, and €1.8 billion will be invested across various sectors