Egypt: EU to Provide Egypt $8.06 Billion Funding Package

The money, paid out over three years, is partly to help Egypt “move further away from Russian gas” and fund efforts to curb migration.

The European Union will provide Egypt with a funding package of €7.4 billion ($8.06 billion) from 2024-2027, the EU Commission announced on Sunday.

The funding is intended to assist Egypt in stabilizing its economy while reducing its dependence on Russian gas. It includes a grant to help address the flow of migrants from the region into Europe.

The deal includes…