S'abonner

EU and Egypt: 7.4 billion euro strategic pact

In the midst of an economic crisis, Egypt is receiving 7.4 billion euros in financial support from the EU, in the form of loans, investments and grants.

Share:

Partenariat UE-Egypte mars 2024

This Sunday, the European Union and Egypt will take a decisive step by sealing a 7.4 billion euro financial agreement. Conceived as a mix of loans, investments and aid, the agreement is designed to help Egypt through its worst economic crisis. With 5 billion allocated to loans, including 1 billion available before the end of 2024, and 1.8 billion earmarked for strategic investments, this agreement represents substantial support for Egypt’s economic recovery.

Strategic fund distribution

Beyond the figures, the distribution of funds demonstrates a targeted commitment to key sectors. The 400 million euros earmarked for bilateral projects and the 200 million focused on migration issues reflect a willingness to respond to immediate challenges while investing in Egypt’s long-term stability.

Focus on energy and regional stability

At the heart of the agreement, energy cooperation is the mainstay of this new EU-Egypt dynamic, with a particular focus on LNG. This strategic choice aims to reduce Europe’s dependence on Russian gas, in a tense geopolitical context. At the same time, the agreement underlines the importance of security, counter-terrorism and border protection, highlighting Egypt’s geostrategic role in the region.

A renewed migration model

Based on the agreement with Tunisia, this collaboration also aims to establish effective control of migratory movements. The EU is counting on Egypt to curb departures and facilitate the return of irregular migrants, underlining the importance of migration management in bilateral relations.

The agreement signed in Cairo is not limited to financial support; it represents a strategic partnership aimed at jointly addressing economic, security and migration challenges. This initiative comes against a backdrop of enhanced cooperation, with Egypt and the EU positioning themselves as key partners in the quest for regional stability and sustainable development.

  • Populaires ​
OVO launches new subsidiary dedicated to onshore wind farm repowering in the United Kingdom
Europe restricts diesel made from Russian crude, prices surge
Legrand raises 2025 forecast and jumps 9% on stock market
The United States sides with Argentina in YPF dispute
Gutami Holding signs 150 MW solar deal with storage in Burkina Faso
Afghanistan and Turkmenistan strengthen cooperation on TAPI gas pipeline and trade initiatives
Afghanistan and Turkmenistan reaffirmed their commitment to deepening their bilateral partnership during a meeting between officials from both countries, with a particular focus on major infrastructure projects and energy cooperation.
European Union tightens sanctions on Russian oil to increase diplomatic pressure
The European Union lowers the price cap on Russian crude oil and extends sanctions to vessels and entities involved in circumvention, as coordination with the United States remains pending.
Brasilia Prepares Trade Countermeasures Amid New U.S. Tariffs of 50%
Brazil adopts new rules allowing immediate commercial measures to counter the U.S. decision to impose an exceptional 50% customs tariff on all Brazilian exports, threatening stability in bilateral trade valued at billions of dollars.
European Commission Warns on Chinese Competition, International Agencies Respond
Several international agencies have echoed warnings by Teresa Ribera, Vice-President of the European Commission, about commercial risks related to Chinese competition, emphasizing the EU's refusal to engage in a price war.
EBRD Lends €400 Million to Moldova to Secure Energy Supply
The European Bank for Reconstruction and Development lends €400 million to JSC Energocom to diversify Moldova's gas and electricity supply, historically dependent on Russian imports via Ukraine.
BRICS Launch Their Own Climate Finance Framework and Reject CBAM
BRICS adopt a joint financial framework aimed at supporting emerging economies while criticizing European carbon border tax mechanisms, deemed discriminatory and risky for their strategic trade relations.
The European Union creates a strategic alliance to secure critical chemical supplies
The European Commission is launching an alliance with member states and industrial players to secure the supply of critical chemicals, amid growing competition from the United States and China.
Russia-Saudi Arabia trade increases by 60% to USD 3.8 billion
Trade between Russia and Saudi Arabia grew by over 60% in 2024 to surpass USD 3.8 billion, according to Russian Minister of Industry and Trade Anton Alikhanov, who outlined new avenues for industrial cooperation.
BRICS Advocate for Energy Market Stability Amid Sanctions
Meeting in Rio, BRICS nations urge global energy market stability, openly condemning Western sanctions and tariff mechanisms in a tense economic and geopolitical context.
Iran: Oil Dependence Limits Alliances with Moscow and Beijing
Despite strong ties, Iran's dependence on oil revenues limits its ability to secure substantial strategic support from Russia and China amid current international and regional crises, according to several experts.
Egypt strengthens energy cooperation with six Chinese groups at Shanghai summit
Egypt’s Electricity Minister engages in new talks with Envision Group, Windey, LONGi, China Energy, PowerChina, and ToNGWEI to boost local industry and attract investments in renewable energy.
Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Hungary and Slovakia jointly oppose European ban on Russian energy
Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya Denounces Greek Oil Exploration off the Coast of Crete
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary firmly opposes European plan on Russian energy
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israel strikes Natanz: underground facilities intact according to IAEA
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
Macron presents a united European front in Greenland amid US ambitions
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
visite souveraineté arctique Macron
Kazakhstan selects Russia and China for its first nuclear power plants
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israel strikes Iran, uncertainty over US nuclear negotiations in Oman
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Israel Strikes Iranian Nuclear Facilities After Critical Uranium Enrichment Levels
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING