The European Parliament has approved two major financial assistance packages aimed at supporting Egypt and Jordan, endorsing loans worth €4 billion and €500 million respectively.
These approvals reflect the EU’s continued commitment to supporting economic stability and reforms in key neighbouring countries © Mena Today
The European Parliament has approved two major financial assistance packages aimed at supporting Egypt and Jordan, endorsing loans worth €4 billion and €500 million respectively.
The macro-financial assistance (MFA) for Egypt was passed with 452 votes in favour, 182 against, and 40 abstentions, while the proposal for Jordan received overwhelming support with 571 votes in favour, 59 against, and 46 abstentions.
The financial support for Egypt stems from a broader €5 billion package proposed by the European Commission on March 15, 2024. This includes a short-term loan of €1 billion, already disbursed by the end of 2024, and a regular loan of €4 billion to be released in three instalments.
The European Parliament’s approval formally endorses this long-term financial support plan.
As for Jordan, the €500 million loan aims to help the country meet its financing needs, support ongoing structural reforms, and contribute to fiscal consolidation efforts, in line with the EU’s strategic partnership with Amman.
These approvals reflect the EU’s continued commitment to supporting economic stability and reforms in key neighbouring countries, particularly in light of global financial pressures and regional challenges.
The Rafah border crossing between Gaza and Egypt will remain closed until further notice, Israeli Prime Minister Benjamin Netanyahu said on Saturday, adding its reopening will depend on Hamas handing over bodies of deceased hostages.
Hamas intends to maintain security control in Gaza during an interim period, a senior Hamas official told Reuters, adding he could not commit to the group disarming - positions that reflect the difficulties facing U.S. plans to secure an end to the war.
Saudi Arabia is discussing a defence deal with the United States which it hopes to seal when Crown Prince Mohammed bin Salman visits the White House next month, the Financial Times reported on Friday, citing people familiar with the matter.
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