Egypt Says it is Expecting a Further $1.7 Billion from Europe Within Days

Egypt said on Saturday that it expects to receive a $1.7 billion package from the European Union within days.

It would be the first of two remaining tranches of a $5.7 billion macro-financial assistance package.

Egypt’s Foreign ​Minister Badr Abdelatty said Cairo hoped the last payment would be transferred ‌by ⁠the start of autumn.

The assistance package has become a cornerstone of Europe’s strategy to stabilise one of Africa’s largest economies.

Brussels increasingly views Egypt as a strategic partner amid its role in managing migration routes, its influence in regional conflicts, and Red Sea disruptions.

The EU funding comes as Cairo continues implementing economic reforms under an IMF-backed programme.

It is designed to restore macroeconomic stability after years of mounting external debt, high inflation, and foreign currency shortages.