The EU support package is intended to relieve pressure on the Egyptian economy as concerns over the impact of the ongoing war on Gaza continue to grow, according to a report by the Financial Times on Wednesday (13 March). Egyptian Minister of Finance Mohamed Maait recently revealed that he anticipates around 4.5-5.5 billion euros from the EU, provided in a mixture of grants and loans. It comes amid mounting concerns in Europe over fears of increased migratory flows and internal pressure on Egyptian President Abdel Fattah El-Sisi. Athens has described the forthcoming EU support for Egypt with a generous package to manage migration as “vital” for the wider region. There could reportedly be millions of refugees in Egypt and with any further destabilization in the North African country, the flows to Greece could increase dramatically via Libya.

Source: The North Africa Journal March 15, 2024 17:53 UTC