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.
The Egyptian government has successfully completed its second sovereign sukuk issuance, valued at $1 billion, as part of its broader strategy to diversify financing tools and investor bases.
Over 40 people, including children and health care workers, were killed in an attack on a hospital in Sudan at the weekend, the head of the World Health Organization said on Tuesday.
Germany does not support calls to suspend a pact governing Israel's relations with the European Union, a government official said on Monday, highlighting divisions within the bloc.
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