EU leaders have reached a significant agreement with Egypt, pledging €7.4 billion in grants and loans aimed at addressing irregular migration.

The deal, forged during a diplomatic visit to Cairo led by European Commission President Ursula von der Leyen, marks a concerted effort to tackle one of the most pressing challenges facing the EU.

The delegation accompanying President von der Leyen included prominent figures such as Italian Prime Minister Giorgia Meloni, Belgian Prime Minister Alexander De Croo, Austrian Chancellor Karl Nehammer, Cypriot President Nikos Christodoulides, and Greek Prime Minister Kyriakos Mitsotakis, underscoring the collective commitment of EU member states to addressing migration issues.

A notable aspect of the agreement is the substantial €5 billion direct transfer to the Egyptian government, representing a departure from the typical EU approach of disbursing funds through co-financed projects or NGOs.

Additionally, €5 billion in soft loans for the period 2024-2027 will be provided as macro-financial assistance to Egypt’s central bank, affording the government flexibility in its allocation.

While a portion of the aid will be tied to specific projects, including €100 million for grain storage to mitigate the effects of geopolitical disruptions on food security, as well as funds for wastewater treatment and renewable energy initiatives, only approximately €200 million is explicitly designated for migration management.

However, it is evident from both statements and actions that the EU expects Egypt to play a more active role in border control and preventing migrants from crossing into Europe.

The overarching agreement underscores the EU’s emphasis on collaboration with third countries to address migration challenges effectively.

The agreement comes amid heightened concerns over irregular migration, exacerbated by geopolitical developments such as Russia’s involvement in conflicts affecting food security.

By providing substantial financial support to Egypt, the EU aims to foster stability and cooperation in the region while addressing the root causes of migration.

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