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Europe to provide final Egypt loan tranche by 2026
Nikolaos Zgimis, Head of Trade at the European Union Embassy in Egypt, stated that Egypt will receive the final tranche of the European Union loan worth 1.5 billion euros by the end of 2026, after having received 3.5 billion euros out of the agreed 5 billion euros in 2024. It is expected that the EU will soon begin discussions with the Egyptian government regarding the disbursement of the final tranche, with the possibility of additional loans after this loan is completed. The Europeans are supporting renewable energy projects in Egypt, including the electrical connection between Egypt and Greece via a submarine cable in the Mediterranean Sea, to strengthen the response to the current energy crisis caused by the Middle East war.
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