Monday May 27th, 2024
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The New Strategic Partnership Between Egypt & the EU Explained

This partnership signals heightened coordination between Egypt and the European Union.

Cairo Scene

The New Strategic Partnership Between Egypt & the EU Explained

On Sunday, March 17th, President El-Sisi met with Ursula von de Leyen, the president of the European Commission, as well as the prime ministers of Belgium, Italy and Greece. The purpose of this summit was to advance the relationship between Egypt and the European Union to the level of a ‘strategic partnership’, a political move that indicates an increase in the level of cooperation and coordination between these two bodies.

At the summit, the EU finalized a new funding package for Egypt. This EUR 7.4 billion aid package consists mostly of loans. In the terms for this aid package is the stipulation that Egypt commit to working harder on immigration. Included in the package are EUR 5 billion worth of concessional loans, EUR 1.8 billion of investments, and EUR 600 million worth of grants. The EU has also stated that they hope to unlock EUR 5 billion worth of private sector investment within Egypt in industries such as green hydrogen, agriculture and water management.

Multiple topics were discussed at the summit, including the war in Palestine, regional security, combatting terrorism, economic cooperation, energy, industry, technology, education, and, importantly, immigration.

Immigration was one of the EU’s biggest concerns at this summit, with the war in Sudan at Egypt’s southern border causing one of the world’s most severe displacement crises. EU officials have praised Egypt’s management of its 9 million refugees, particularly for preventing the migration of these displaced people into Europe. The body has earmarked EUR 200 million for immigration management within the new aid package.

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