The European Union has disclosed a comprehensive aid package worth 7.4 billion euros ($8.06 billion) to Egypt, aiming to manage migration flows more effectively. This financial support, coupled with an elevation in ties to a “strategic partnership,” is poised to be formalized during an upcoming visit by European Commission President Ursula von der Leyen alongside the leaders of Belgium, Italy, Austria, Cyprus, and Greece.
This initiative, set against the backdrop of rising migration concerns and Egypt’s economic challenges, encompasses grants, loans, and investments spread over the next three years. With 5 billion euros ($5.45 billion) allocated for concessional loans and 1.8 billion euros ($1.96 billion) for investments, the package also earmarks 600 million euros ($654 million) in grants to bolster migration management and other areas.
Despite the economic aid aimed at fostering stability and cooperation, the deal has drawn criticism from human rights organizations, spotlighting concerns over Egypt’s governance under President Abdel Fattah el-Sisi. Critics argue the agreement overlooks broader issues of political freedom and human rights, echoing previous criticisms of EU agreements with North African countries.–Web Desk