BAKU, Azerbaijan, July 4. Egypt is expected to receive €1.5 billion ($1.72 billion) from the European Union in the coming days as part of a macro-financial assistance package, according to Foreign Minister Badr Abdelatty.
Speaking at a press conference in Egypt’s new administrative capital alongside European Commissioner for the Mediterranean Dubravka Suica, Abdelatty said the payment represents the first of two remaining tranches from a €5 billion support package.
He added that the remaining €3 billion would be disbursed in two equal instalments of €1.5 billion each, with Cairo hoping to receive the final payment by early autumn. The EU has already disbursed €2 billion, including an initial €1 billion tranche in January 2025 and a second €1 billion earlier this year.
The macro-financial assistance is part of a broader €7.4 billion EU funding agreement announced in 2024, which also includes €5 billion in concessional loans.
