CAIRO, April 1 (Xinhua) -- Egypt welcomed on Tuesday the European Parliament's approval of a second tranche of a financial support package to Egypt worth 4 billion euros.

The approval shows "the great appreciation that the European Union and its institutions have for the comprehensive strategic partnership with Egypt," the Egyptian Foreign Ministry said in a statement.

Earlier in the day, the European Parliament announced that the financial assistance for Egypt was adopted by Parliament by 452 votes in favor.

In March 2024, the European Union (EU) agreed to provide a substantial financial support package for Egypt worth 7.4 billion euros for 2024-2027, including 5 billion euros in concessional loans, to bolster the Egyptian economy.

Egypt already received the first tranche of 1 billion euros in December last year.

European Parliament President Roberta Metsola congratulated Egypt's Foreign Minister Badr Abdelatty on the "positive outcome," recognizing Egypt's role in promoting security and stability, according to the statement.

For his part, Abdelatty expressed gratitude for the approval, highlighting the depth of Egyptian-European relations and the vital strategic partnership between the two sides. Enditem

Related

Go to Forum >>0 Comment(s)