Egypt

EU Signs $8B 'Strategic Partnership' With Egypt

MAR 18 2024·Updated MAR 19 2024

Story

Image credit: Thierry Monasse/Contributor/Getty Images News via Getty Images

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.
EUobserver
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.
EgyptToday
European Commission Pres. Ursula von der Leyen, who traveled to Cairo with five other EU leaders, said the agreement underscored Egypt's strategic position in a "very troubled neighborhood," and the country's crucial role in the region's stability.
guardian
Further talks between the EU and Egypt reportedly covered industrial settlement, technology transfer, and workforce training. Energy cooperation, particularly in power generation and natural gas, was also believed to be a central topic.
Dailynewsegypt
The Gaza conflict was also discussed, with Egyptian Pres. Abdel Fattah el-Sisi calling for a cease-fire.
Dailynewsegypt
EU border agency Frontex recorded a 50% surge last year to almost 158K migrants crossing the Mediterranean to Europe compared to 2022. Meanwhile, Egypt — the Arab world's most populous country — is experiencing an economic crisis, including high inflation.
Euractiv

Sources Split

LEFT

CENTER

RIGHT

ESTAB
CRIT

CENTER

PRO
ESTAB

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.

EUobserver

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.

Middle East Monitor