European Parliament president visits Egypt amid ongoing talks on EU macro-financial assistance

CAIRO – 8 January 2025: President of the European Parliament Roberta Metsola is visiting Egypt on Wednesday to strengthen relations between Egypt and the European Union.

Her visit comes in light of the ongoing discussions on EU macro-financial assistance and the geopolitical situation in the Middle East and the neighboring region, as reported by the European Parliament’s website.

Metsola will holding meetings with Speaker of the House of Representatives Hanafi El-Gebali and Speaker of the Senate Abdel Waheb Abdel Razek.

During the meetings, Metsola is set to discuss the EU-macro-financial assistance to Egypt, currently under discussions in the European Parliament.

Moreover, the meetings will cover interparliamentary relations, including holding the next EU-Egypt Inter-Parliamentary Meeting (IPM) in Cairo, as well as issues of mutual interest including migration flows and asylum.

Late in December, Egypt received the first installment of the European Union's €7.4 billion macro-financial assistance package, amounting to €1 billion.

Prime Minister Mostafa Madbouly this month highlighted discussions underway to secure approval for the second tranche, which amounts to €4 billion.

European Commission President Ursula von der Leyen announced this financial and investment package during the Egypt-EU Summit held in Cairo in March last year.

The funding includes 5 billion euros in concessional loans as well as 1.8 billion euros of investments. The funding also includes 600 million euros in grants, including 200 million euros that will be provided to Egypt for the management of migration.