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EU institutions reach provisional agreement on €4 billion macro-financial assistance for Egypt

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The European Parliament, the Council and the Commission have reached a provisional agreement on the Commission's proposal for macro-financial assistance (MFA) for Egypt. This second MFA operation of €4 billion MFA is part of a €5 billion MFA package proposed by the Commission in March 2024. The Parliament and Council are now expected to follow their respective procedures in view of adoption the before the end of June. It will be disbursed in instalments and aims to help stabilize Egypt's macroeconomic and fiscal situation, supporting the country's efforts to meet its financing needs.The first part of the package, a €1 billion short-term MFA operation, was fully implemented and disbursed in 2024. This assistance forms a key part of the financial package underpinning the Strategic and Comprehensive Partnership agreed between the EU and Egypt in March 2024, recognizing the latter's role as a strategic partner for the EU and a key pillar of stability in the region.

Following the adoption expected in June, the EU will agree with Egypt a set of economic policy reforms to underpin the assistance. Egypt will also be required to take concrete and credible steps towards respecting effective democratic mechanisms and the rule of law and guaranteeing respect for human rights ahead of any instalment.

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