Egypt, EU to establish strategic partnership as war on Gaza rages
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Egypt and the European Union are signing a declaration to establish a strategic partnership, a development from the bilateral relations existing between both parties.
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EU commissioner Ursula von de Leyen and Egyptian President Abdel Fattah el-Sisi in Cairo (Screengrab)
Egypt and the European Union are developing relations to a strategic and comprehensive partnership, Egyptian President Abdel Fattah El-Sisi's office revealed, announcing the signing of a formal declaration on Sunday.
This comes amid EU Commissioner Ursula von der Leyen's visit to El-Sisi.
In a statement, the Egyptian president's office said both officials "discussed several bilateral cooperation files, including the expected signing of the joint political declaration document to elevate relations between Egypt and the European Union to the level of 'strategic and comprehensive partnership.'"
Talks also included discussions on the regional situation, with Egypt urging the establishment of a ceasefire in Gaza amid "Israel's" brutal genocide.
Von der Leyen, on the other hand, commented on her visit and commanded the "new milestone" the EU and Egypt have achieved, and extended hope for more enhanced relations between both parties for the future.
Glad to be in Cairo to mark a new milestone in the EU-Egypt strategic partnership.
— Ursula von der Leyen (@vonderleyen) March 17, 2024
With Egypt’s political and economic weight and its strategic location in a very troubled neighbourhood,
the importance of our relations will only increase over time. pic.twitter.com/531yNW6d0e
Amid Crisis, Egypt to receive first $1.5bn of IMF loan
The EU has also prepared an $8.1 billion package for Egypt to counter the economic recession it is currently experiencing. This comes as an addition to the IMF's $8 billion package it has approved for Eypt.
Earlier, it was announced that Egypt is receiving $1.5 billion this upcoming week in an initial batch of the $8 billion loan the International Monetary Fund (IMF) has granted it, sources cited by Egyptian newspaper Al Mal reported.
This comes after the IMF agreed to increase Egypt's loan program, initially set at $3 billion, to $8 billion due to the changing "macroeconomic conditions" the country is seeing, referring to the Israeli genocide in Gaza that has negatively impacted tourism to Egypt, as well as profits from the Suez Canal.
Egyptian media reported that the country has only received 350 million dollars from the initial package, which was brokered in December 2022 and would be validated for over 46 months.
