The European Parliament, in its plenary session held in Strasbourg, approved the final draft of the decision to grant Egypt the second tranche of the EU’s macro-financial assistance package, amounting to €4 billion.
The decision was endorsed by 386 out of 567 members, reflecting a strong majority and broad support for across political groups within the Parliament.
The outcome underscores the EU’s recognition of the strategic and comprehensive partnership with Egypt, as well as Egypt’s key role in promoting stability in the EU’s southern neighbourhood.
Egypt’s Ambassador to the EU Ahmed Abu Zeid stated that the parliamentary approval of the €4 billion financial support came after nearly nine months of intensive deliberations. These involved key committees such as International Trade, Foreign Affairs, and Budget, in addition to round-the-clock diplomatic engagements with Members of Parliament and political group leaders. These efforts focused on explaining the full scope of EU-Egypt relations, the six pillars of the strategic partnership between both sides, and Egypt’s contributions to peace and stability in the Middle East and Africa, as well as the mutual interest in deepening bilateral cooperation.
It is expected that the European Council will vote on the decision in the coming days, paving the way for disbursing the second tranche.
The funds will bolster Egypt’s economic resilience amid growing global and regional challenges, while enabling the Egyptian government to move forward with its ambitious economic and development programmes.
