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.
U.S. Defense Secretary Pete Hegseth has reinforced U.S. military capability in the Middle East with more warplanes, the Pentagon said on Tuesday, amid a more than two-week-old U.S. bombing campaign in Yemen and mounting tensions with Iran.
Turkey's government denounced opposition calls for a mass commercial boycott following the arrest of Istanbul Mayor Ekrem Imamoglu that sparked nationwide protests, describing them on Wednesday as an economic "sabotage attempt".
Israel announced a major expansion of military operations in Gaza on Wednesday, saying large areas of the enclave would be seized and added to its security zones, accompanied by large-scale evacuation of population.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
