Egypt expects up to six billion dollars from the EU. European leaders are expected to announce the multibillion-dollar financing package and an improvement in relations with Egypt.
The agreement aims to improve cooperation in areas such as renewable energy, trade and security. It is also an attempt to curb migration across the Mediterranean. The number of migrants who are currently trying to cross from Libya to Greece and thus to the EU is increasing. The Greek government is also concerned about increasing arrivals of migrants of Egyptian origin via a new refugee route.