EU agrees € 7bn deal with Egypt in attempt to stem migrant flow
Egyptian President Abdel Fattah el-Sisi meets European Commission President Ursula von der Leyen at the Ittihadiya presidential palace in Cairo yesterday. Photo: The Egyptian Presidency/Handout via Reuters
The EU announced a €7.4bn funding package and an upgraded relationship with Egypt yesterday, part of a push to stem migrant flows to Europe criticised by rights groups.
The agreement lifts the EU’s relationship with Egypt to a “strategic partnership” and was unveiled as a delegation of leaders visited Cairo. It is designed to boost co-operation in areas including renewable energy, trade and security, while delivering grants, loans and other funding over the next three years to support Egypt’s faltering economy.
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