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.
Saudi Arabia, Turkey, Egypt, Jordan, Indonesia, Pakistan and Qatar have accepted invitations to join U.S. President Donald Trump's "Board of Peace", the Saudi foreign ministry said in a joint statement that also included the United Arab Emirates.
U.S. President Donald Trump on Wednesday said he would like to bring together the leaders of Egypt and Ethiopia to work out a deal to solve a dispute over Ethiopia's Grand Ethiopian Renaissance Dam, which both Egypt and Sudan consider a serious threat to vital water supplies.
The Arab Republic of Egypt has welcomed an invitation from U.S. President Donald Trump for President Abdel Fattah Al-Sisi to join the Board of Peace overseeing efforts to end the war in Gaza.
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