Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, held a negotiation meeting with relevant Egyptian authorities and the European Commission’s Directorate-General for Financial and Economic Affairs. The aim was to finalize the economic component of the macroeconomic support mechanism and budget support, valued at 4 billion euros.
The meeting reviewed the matrix of structural reforms related to the economic aspect of the mechanism. It was confirmed that the European Parliament had approved the second tranche of financial support worth 4 billion euros after nine months of negotiations. This highlights the strong economic relationship between Egypt and the EU.
Dr. Al-Mashat emphasized that this meeting is part of ongoing coordination among national entities to implement structural reforms under the second phase of the macroeconomic support mechanism. She noted that the first phase included budget support financing of 1 billion euros received in December 2024.
The macroeconomic support mechanism is part of a larger financial package announced during the Egypt-European Summit in March 2024, totaling 7.4 billion euros. This includes 5 billion euros for macroeconomic support, 1.8 billion euros in investment guarantees for the private sector, and 600 million euros in grants for various developmental sectors.
— News Original —
عُقدت وزيرة التخطيط والتنمية الاقتصادية والتعاون الدولي اجتماعًا تفاوضيًا مع الجهات المصرية المعنية والإدارة العامة للشئون المالية والاقتصادية بالمفوضية الأوروبية… [truncated for brevity]
— news from press.ahdath-alyom.com