Ursula von der Leyen: EU wants to promise Egypt a billion. The financing is expected to amount to five to six billion dollars, Egyptian Finance Minister Mohamed Maait told Asharq Business.
European governments have long been concerned about the risk of instability in Egypt's population of 106 million. Egypt has been hit hard by Israel's war against Hamas in neighboring Gaza, negatively impacting tourism bookings and natural gas imports. The country has difficulty obtaining foreign currency and the economic hardship has caused more and more people to emigrate in recent years.