The European Union unveiled a €7.4 billion aid package on Sunday aimed at bolstering Egypt. This financial aid, a mix of grants and loans scheduled for disbursement over the next three years, comes as Europe is trying to mitigate the risks of increased migration due to turmoil in neighboring regions.
The package, scheduled for signature during an upcoming visit by European Commission President Ursula von der Leyen and leaders from Belgium, Italy, Austria, Cyprus, and Greece, aims to improve Egypt's ability to manage its borders, especially with Libya. In addition, the aid will support Egypt's efforts to provide refuge for Sudanese nationals fleeing nearly a year of conflict between rival military factions in Sudan.