Egypt will receive a tranche of 1.5 billion euros from the European Union, part of the 5 billion euro macro-financial assistance program.

Egypt is preparing to receive in the coming days a tranche of 1.5 billion euros from the European Union, according to the announcement made by the Foreign Minister, Badr Abdelatty.

This represents the first of the two remaining payments from the macro-financial assistance program, which totals 5 billion euros. During a press conference, the minister detailed that the remaining 3 billion euros will be transferred in two equal tranches, each of 1.5 billion euros, and the Egyptian authorities hope that the last tranche will be transferred by the beginning of autumn.

So far, the European Union has allocated 2 billion euros to Egypt from this program, with tranches of 1 billion euros transferred in January 2025 and at the beginning of this year. The assistance program is part of a broader financing agreement of 7.4 billion euros, which also includes loans on favorable terms to support the Egyptian economy.