DUBAI: Egypt expects to receive €1.5 billion ($1.72 billion) from the European Union in the coming days, the first of two remaining tranches of a €5 billion macro-financial assistance package, Foreign Minister Badr Abdelatty said on Saturday.
Speaking at a press conference in Egypt’s new administrative capital alongside European Commissioner for the Mediterranean Dubravka Suica, Abdelatty said the outstanding €3 billion would be disbursed in two equal tranches of €1.5 billion each.
He said Cairo hoped the last payment would be transferred by the start of the autumn.
The EU has so far disbursed €2 billion of the package, having transferred an initial €1 billion tranche in January 2025 and a second €1 billion earlier this year.
The macro-financial assistance forms part of a broader €7.4 billion funding deal the EU announced in 2024, which also includes €5 billion in concessional loans.
Meanwhile, Palestinian Prime Minister Mohammad Mustafa discussed with Egyptian Foreign Minister Badr Abdelatty preparations to mobilize international support for the Palestinian Authority ahead of the upcoming donor conference in Brussels.
The two officials held a phone call during which they reviewed developments in the Gaza Strip and preparations for the international conference, WAFA reported.
Mustafa briefed the Egyptian minister on the situation in the West Bank, highlighting ongoing Israeli military raids, repeated attacks by Israeli colonists, restrictions on the movement of people and goods, and the continued withholding of Palestinian tax revenues.
