Vice-President of the European Commission Valdis Dombrovskis (L) and Minister of International Cooperation of Egypt Rania Al-Mashat sign an agreement during the Egypt-EU Investment Conference. Dati Bendo/European Commission/dpa The European Union and Egypt on Saturday signed an agreement that will see the EU invest up to €1 billion ($1.1 billion) in the populous Arab country
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
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