EU readies $8B aid package for Egypt to help economy, stem immigration
European Commission President Ursula von der Leyen is set to travel to Cairo Sunday with the Belgian, Italian and Greek prime ministers to complete and announce the aid agreement for Egypt.
The European Union is preparing a €7.4 billion ($8.08 billion) aid package to help Egypt’s economy amid fears that conflicts in neighboring Gaza and Sudan could further add to the North African country’s financial woes and trigger more illegal immigration to Europe, according to a report.
European Commission President Ursula von der Leyen is set to travel to Cairo Sunday with the Belgian, Italian and Greek prime ministers to complete and announce the agreement, the Financial Times reported Wednesday. A commission spokesperson separately confirmed the visit.
A European official involved in the talks told the newspaper, “We are worried about two borders: the one between Sudan and Egypt, where the Sudanese are entering the country, and the border between Egypt and Libya, where people are leaving.”
Another source said that the economic subsidy would last through 2027.
