Egypt received €1 bln first tranche of EU €7.4 bln financing package

Madbouly noted that there are ongoing discussions aimed at securing approval for the second tranche, valued at 4 billion euros. 

The disbursement aligns with the strategic partnership agreement signed between Egypt and the EU in March 2024.

On 20 December, the EU approved the disbursement of the first tranche to Egypt as part of its macro-financial assistance (MFA) to the country.

The EU said its approval was based on Egypt's progress in enhancing its public financial management and strengthening the role of the competition authority.

Earlier in December, Egypt's parliament approved the loan.