Cairo / Anadolu

The Egyptian government announced on Friday that the European Commission has approved the disbursement of 1.5 billion euros to Egypt, as part of the financial aid package approved by the European bloc last year.

This package is part of the European Union's commitments to support the Egyptian economy, which is under financial pressure.

This was stated in a statement by the Egyptian Ministry of Foreign Affairs, without specifying the transfer date.

The Ministry of Foreign Affairs clarified that the approval includes the disbursement of the second installment of the second tranche worth 1.5 billion euros, within the framework of the budget support program.

It added that the amount is a continuation of the overall financial support program allocated to Egypt, worth 5 billion euros.

The ministry noted that the previous payment of the second tranche, amounting to 1 billion euros, was transferred in January 2026, and a similar first tranche was disbursed in 2024.

It explained that these amounts come within the framework of the strategic and comprehensive partnership between Egypt and the European Union, which was approved in March 2024.

Cairo considered that the European Commission's approval "reflects the depth of the partnership between the two sides and the progress it is witnessing in various areas of cooperation."

It added that the decision confirms the importance of the partnership in supporting Egypt's efforts to achieve economic stability and advance sustainable development.

According to the statement, the past period witnessed intensive Egyptian contacts with various EU institutions at all levels, aimed at securing the necessary support to implement the axes of the strategic partnership.

In March 2024, Egypt and the European Union announced the elevation of their relations to a "strategic and comprehensive partnership," supported by a financing and investment package totaling 7.4 billion euros.

The package includes 5 billion euros in financial aid to support the Egyptian budget, 1.8 billion euros in investment guarantees for European and Egyptian companies, in addition to 600 million euros for technical support, training, and capacity building.

The 5 billion euro financing is scheduled to be made available until 2027, according to a previous statement by the Egyptian Ministry of Planning.

Egypt and the European Union had elevated their relations to a comprehensive strategic partnership in March 2024, including a financing and investment package worth 7.4 billion euros. This payment represents the latest tranche of the program, which aims to support the Egyptian budget. The financial flows are expected to help alleviate pressure on the local currency, although the disbursement date has not yet been set. These developments come amid Egypt's economic reform program supported by the International Monetary Fund.