Cairo: EgyPulse – News Desk
Egypt and the European Union marked a new phase in their Strategic and Comprehensive Partnership on Wednesday, signing and pursuing a number of landmark agreements that set the direction for future collaboration. Held in Brussels, the first-ever joint summit between the two sides addressed wide-ranging fields such as financial support, energy transition, trade, migration, and security.
President Abdel Fattah El-Sisi attended the summit, alongside President of the European Council António Costa and President of the European Commission Ursula von der Leyen. It came a culmination of the Egypt-EU strategic partnership signed in March 2024.
Sectorial Cooperation: On the sidelines of the summit, both sides signed a €4 billion macro-financial assistance memorandum of understanding, according to a joint statement after the meeting. This disbursement makes up the largest share of the EU’s €7.4 billion financial support pledged to Egypt as part of their Strategic and Comprehensive Partnership signed in 2024.
Together with the first €1 billion macro-financial loan disbursed in December 2024, the new €4 billion operation brings total EU macro-financial assistance to Egypt under the partnership to €5 billion. Egypt and the EU also signed a separate €75 million financing agreement that supports key initiatives in Egypt aimed at addressing socio-economic challenges and promoting inclusive growth locally.
According to the EU, the agreement will improve access to essential quality services, including health, education, water, and sanitation, and complement existing social safety nets, particularly for women and youth. Moreover, Egypt and the EU signed an agreement formalizing Egypt’s association to the “Horizon Europe” research and innovation program.
The EU further announced new financial packages for Egypt for 2025, including €110.5 million to advance sustainable development, vocational training, and future skills, and €50 million to support private-sector investments in Egypt’s green transition.
