European Union announces $8 billion package of aid for Egypt
The European Union has announced a $8 billion aid package for cash-strapped Egypt amid concerns that economic pressure and conflicts and chaos in neighboring countries could drive more migrants to European shores
By AP News
Published - Mar 17, 2024, 07:33 AM ET
Last Updated - Mar 17, 2024, 10:09 AM EDT
CAIRO (AP) — The European Union on Sunday announced a $8 billion aid package for cash-strapped Egypt amid concerns that economic pressure and conflicts and chaos in neighboring countries could drive more migrants to European shores.
The package is scheduled to be signed during a visit by European Commission president Ursula von der Leyen and the leaders of Belgium, Italy, Austria, Cyprus and Greece, according to Egyptian officials.
The package includes both grants and loans over the next three years for the Arab world’s most populous country, according to the European Union Mission in Cairo.
