EU provides €1b for structural reforms in Egypt

The European Union (EU) announced a significant concessional financing package of €1 billion to support Egypt’s implementation of structural reforms aimed at stimulating the private sector. This funding is part of the Macro-Financial Assistance (MFA) mechanism, designed to bolster economic stability and enhance private sector growth in the country.
The €1 billion financing will assist Egypt in implementing structural reforms that are expected to drive private sector development and improve economic conditions. This support aligns with broader goals of enhancing competitiveness and fostering a more favorable business environment in Egypt.

The announcement followed a video conference between Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, and EU officials. The meeting also saw participation from the Ministry of Foreign Affairs, Migration, and Egyptians Abroad Affairs, reflecting a collaborative effort in advancing this crucial initiative.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama