EU approves $1.7B aid to Egypt
The European Commission today approved the transfer of the second installment of Egypt's budget support, amounting to 1.5 billion euros, as part of a comprehensive financial assistance program totaling 5 billion euros for Egypt. This support aims to strengthen Egypt's economic stability, help cover its financing needs, and bolster economic reform efforts, especially in light of the repercussions of the war in the Middle East. Previously, Egypt received two installments of 1 billion euros each, intended to ease pressures on public finances and improve macroeconomic performance.
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