CAIRO (AP) — The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion, in a move that is meant to shore up the Arab country’s economy which is hit by a staggering shortage of foreign currency and soaring inflation. In a
BRUSSELS (AP) — The European Union intends to fast-track some of its aid money to Egypt using an urgent funding procedure that bypasses parliamentary oversight and other safeguards, according to the president of the bloc’s executive branch. The 1 billion euros ($1.1 billion) intended for this is part of a larger package of 7.4 billion
CAIRO (AP) — The European Union on Sunday announced a 7.4 billion-euro ($8 billion) aid package for cash-strapped Egypt as concerns mount that economic pressure and conflicts in neighboring countries could drive more migrants to European shores. The deal, which drew criticism from rights groups over Egypt’s human rights record, was signed Sunday afternoon in
The European Commission, in a statement made in Cairo on Sunday, revealed plans to provide financial aid to Egypt through a combination of loans and grants totalling €7.4 billion ($8.1 billion) until the end of 2027. This money is intended to be part of a new strategic partnership, as announced by the European Commission during
Egyptian President Abdel Fattah el-Sisi (3rd R) meets EU Commission President, Ursula von der Leyen (3rd L) in Cairo, Egypt on March 17, 2023. Egyptian Presidency / Handout/Anadolu via Getty Images The European Union on Sunday announced a 7.4 billion-euro ($8 billion) aid package for cash-strapped Egypt as concerns mount that economic pressure and conflicts
Despite misfires during previous infrastructure endeavours in Africa, the Middle East and Central Asia, China is now making substantial green energy investments in those regions – and finding eager takers. Companies are making strides in power generation and crafting solar energy equipment with support from a range of host countries, including Egypt, Mauritius, Qatar and