Egypt
The EU on Friday (Apr.12) said it would loan Egypt a little over $1 billion in short-term financial aid to help stabilise the country's economy.
The sum is part of a bigger package worth 5 billion euros in loans, the statement said.
The second part of the operation, still to be adopted, would provide € 4 billion over the period 2024-2027.
Officially, the loan is meant to address Cairo's deteriorating fiscal situation and financial needs, notably after the outbreak of the Gaza war, the Houthi attacks in the Red Sea and the repercussions of the war in Ukraine.
As a precondition Egypt should continue to make "concrete and credible steps towards respecting effective democratic mechanisms (including a multi-party parliamentary system) and the rule of law and guaranteeing respect for human rights," the statement added.
Egypt agreed last month to an expanded $8 billion support programme with the International Monetary Fund and an 8-billion deal with the EU.
The package unveiled in March seeks to boost cooperation and help curb migration from north Africa.
01:02
Pics of the day: July 25, 2024
01:28
Spain's parliament to vote on relocation bill for young migrants
01:30
Israeli delegation in Cairo for Gaza cease-fire talks
02:04
Egypt and Jordan criticises Israel's continuing aggression in the Gaza Strip
01:08
Hungary's Orbán, Putin discuss Ukraine in Moscow
01:27
Arab states want Israel out of UN General Assembly