Egypt has expressed its gratitude for the European Parliament’s (EP) decision to approve the first reading of the second tranche of the European Union’s financial support package, valued at €4 billion. The Ministry of Foreign Affairs, Emigration and Egyptian Expatriates released a statement highlighting the significance of this decision, which garnered broad political support within the EP.
The approval underscores the EU’s recognition and commitment to the strategic partnership established between Egypt and the EU, formalized in March 2024 by President Abdel Fattah El Sisi and European Commission President Ursula von der Leyen. This partnership was further cemented by the inaugural Egypt-EU Investment Conference in Cairo in June 2024.
The ministry’s statement emphasized that the EP’s decision acknowledges Egypt’s pivotal role in fostering peace and stability across the Middle East, South Mediterranean, and Africa. Furthermore, it reinforces the EU’s dedication to supporting Egypt’s ongoing development and modernization initiatives.
European Parliament President Roberta Metsola conveyed her congratulations to Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty via telephone. She praised Egypt’s contribution to regional security and requested that her greetings be extended to President El Sisi. Minister Abdelatty reciprocated by expressing Egypt’s deep appreciation for the EP’s decision and highlighting the strengthening strategic relationship between Egypt and the EU.
In recent months, Egypt has engaged in intensive dialogues with various EU institutions to bolster their multifaceted partnership. These discussions have focused on enhancing political, economic, and security cooperation, aligning with the mutual strategic interests of both parties. High-level visits by EP members and EU officials, including representatives from the Budget, Foreign Affairs, and International Trade Committees, have been instrumental in fostering mutual understanding and promoting Egypt’s modernization efforts.
The approval of the second tranche follows the successful disbursement of the first €1 billion tranche in December 2024, which was achieved after extensive EU-level deliberations. The next steps involve the European Council’s approval at the ambassadorial level, followed by consultations between the EP, the European Council, and the European Commission, culminating in the final adoption of the decision in the coming weeks.
The total EU financial support package for Egypt, amounting to €7.4 billion, is allocated through 2027. This comprehensive package includes €5 billion in budgetary support, €1.8 billion in investment guarantees to stimulate European and Egyptian investments, and approximately €600 million for training, technical assistance, and capacity-building programs.
