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.
01:13
Top EU court says FIFA's transfer rules are not in line with European Union law
Go to video
Champions League: Salah still Liverpool's saviour
02:14
Nigeria turns 64: Tinubu vows “end of tunnel” is near, some protest economic hardship
01:50
Ghana police arrest dozens of protesters denouncing the government's handling of the economy
11:07
The rise of cybercrime in Africa: A growing threat
01:05
Blinken in Cairo in a bid to secure a ceasefire deal between Hamas and Israel