Von der Leyen agrees €7.4bn aid programme for Egypt
EUobserverMar 17
EU Signs $8B 'Strategic Partnership' With Egypt
The Facts
The EU and Egypt on Sunday signed an investment and migration pact worth €7.4B (US $8.06B) in Cairo, providing financial support to the North African country with the aim of increasing European energy security and combatting the irregular flow of migrants to the EU.
The four-year "strategic and comprehensive partnership" reportedly involves €5B ($5.4B) in concessional loans to support economic growth, €1.8B ($2B) worth of investments, and €600M ($653M) in grants, including €200M ($218M) for migration management.
The Spin
Pro-establishment narrative
This historic deal proves Europe can take action in times of global disruption and tension amid the ongoing war in Gaza. This agreement recognizes the strategic importance of Egypt, which borders Gaza, and will help secure Europe's energy security while providing Cairo with much-needed financial assistance. Closer strategic ties will also help promote democracy, fundamental freedoms, and human rights.
Establishment-critical narrative
This deal proves how little the EU values democracy and human rights. The EU is willing to cooperate with North African authoritarian regimes — including Egypt and Tunisia — when it's concerned about access to energy and increased migration. By bolstering the el-Sisi regime with deals of this type, the EU is complicit in Cairo's ongoing human rights abuses.
Nerd narrative
There's a 2% chance that a military conflict between Egypt and Israel will cause 1K or more deaths before Jan. 1, 2030, according to the Metaculus prediction community.