European Commission provides €1 billion in macro-financial assistance to Egypt The Commission has adopted a decision to disburse €1 billion in loans to Egypt following the fulfilment of the policy conditions agreed with the EU under the ongoing Macro-Financial Assistance (MFA). This disbursement, which corresponds to the first and only instalment, will take place in the coming days. This financial support will help Egypt cover part of its financing needs for the fiscal year 2024/2025 and ensure macroeconomic stability, while supporting its home-grown reform agenda in conjunction with the ongoing International Monetary Fund (IMF) programme. Egypt's economy started to recover earlier in the year following the announcement of IMF and EU support, after experiencing significant balance of payments pressure. While the recovery is continuing, the economy remains affected by the economic effects of Russia's war of aggression against Ukraine and the situation in the Middle East. #egypt #europe #cooperation #finance Read more: https://lnkd.in/eMBTs3Xf
