The European Union is readying a 7.4 billion euro ($8.08 billion) package aimed at shoring up Egypt's economy amid fear that conflict in Gaza and Sudan could exacerbate financial trouble in the country.
The economic situation in Egypt is poor © Mena Today
The European Union is readying a 7.4 billion euro ($8.08 billion) package aimed at shoring up Egypt's economy amid fear that conflict in Gaza and Sudan could exacerbate financial trouble in the country, the Financial Times reported on Wednesday.
European Commission President Ursula von der Leyen will travel to Cairo on Sunday with the Greek, Italian and Belgian prime ministers to finalize and announce an agreement, the newspaper reported.
Egypt's Foreign Ministry on Wednesday rejected the maritime boundaries deal that Libya's eastern parliament ratified with Turkey, saying in a statement that the ratification will have no legal impact on Cairo.
Egyptian President Abdel Fattah al-Sisi said Egypt's military effort to defend Saudi Arabia would not include an attack on Yemen and would be limited to defending the kingdom's territory and borders, according to a statement by the Egyptian presidency spokesperson on Wednesday.
Greece on Tuesday rejected a decision by Libya's eastern-based House of Representatives to approve the 2019 maritime boundary agreement between Turkey and Libya, saying the deal was without legal effect.
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