The EU Will Give $4.5 Billion to Help Egypt
The European Union (EU) said on Monday that it will give Egypt $4.5 billion more in loans to help with its money problems.
EU loans
The EU Council and the European Parliament have made a temporary agreement to give loans to Egypt. This was announced in an official statement.
The loans are part of a plan to help Egypt with its money problems. Together with help from the International Monetary Fund (IMF) for the years 2024 to 2027, the EU loans will support Egypt in paying for some of its expenses from outside the country.
The EU will give the loan money in parts, not all at once. Each part will be given only if Egypt shows good progress. This means Egypt must do what it promised in the IMF program and also follow some extra rules that the European Commission and Egypt will agree on.
Before the first part of the loan can be given, both the EU and Egypt need to officially agree on the loan terms. Only after this official approval, the money can start being sent to Egypt.
This support is important for Egypt because it helps the country manage its money and pay for things it needs from other countries. The cooperation between the EU and IMF aims to make Egypt’s economy stronger and more stable over the next few years.
In short, the EU and IMF are working together to help Egypt with loans and financial support. The money will be given step-by-step, depending on Egypt’s progress with their economic plans. Both the EU and Egypt have to agree on the loan rules before the money is sent.
Published: 20th May 2025
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