The visits follow the signing of the second phase of the Macro-Financial Assistance (MFA) and budget support mechanism during the Egyptian-European Summit in Brussels, chaired by President Abdel Fattah El-Sisi and EC President Ursula von der Leyen.
A senior delegation from the EC’s Directorate-General for
Economic and Financial Affairs (ECFIN) is conducting technical meetings from
November 10–12 with relevant Egyptian authorities. The discussions focus on the
policies, reforms, and procedures for the first installment of the second MFA
phase, valued at one billion euros.
Minister of Planning and International Cooperation Dr. Rania
Al-Mashat underscored the importance of the partnership, stating that it supports
the state's efforts to continue the path of economic reform and enhance
economic resilience against external fluctuations.
Al-Mashat explained that the second MFA phase, totaling four
billion euros, was coordinated throughout the year and is tied to a matrix of
87 structural reforms under Egypt's national program.
Separately, the ministry is meeting with a mission from the
EC’s Directorate-General for Neighbourhood and Enlargement Negotiations (NEAR)
from November 9–13 to discuss the allocation priorities for 600 million euros
in development grants for the 2026–2027 period.
In line with the grants framework, a 75-million-euro
financing agreement was recently signed for a program supporting social and
economic reforms at the local level. Additionally, the EU announced 110.5
million euros in financial support for 2025 to boost sustainable development,
economic governance, and technical and vocational training.
The Comprehensive Strategic Partnership between Egypt and the EU, announced at the October summit, includes a total financing package of 7.4 billion euros for the 2024–2027 period. This package comprises five billion euros in concessional funding via the MFA, 1.8 billion euros in investment guarantees, and 600 million euros in development grants.