Egypt is experiencing a huge crisis. Inflation in this country reaches 30 percent, revenues from tourism are falling, as are profits from the Suez Canal, which, due to Houthi attacks, is no longer used by the largest transport companies. The European Union is lending a helping hand to Egypt, which has an interest in ensuring that the tourist capital of Africa does not go bankrupt.
Brussels will help Egypt. Will it stop the migration crisis?
“” learned that an aid package for Egypt is ready in Brussels. Its value is EUR 7.4 billion in the form of grants and loans. It is intended to strengthen the Egyptian economy, making it easier for Egypt to cope with the growing number of Sudanese refugees. This huge sum includes, among others: support for the Egyptian energy sector. Egypt in return pledged to strengthen its borders with Libya, from where people cross the Mediterranean Sea on their way to Europe.
There are currently over 457,000 registered refugees and asylum seekers in Egypt. 213 thousand are Sudanese who are fleeing the country due to the ongoing armed conflict there. Sudan borders Egypt, so refugees are supposed to enter the country through this border and then go to Europe through the border with Libya. A significant number of refugees also stay in Egypt, where they live in very poor neighborhoods. That’s why EU officials anonymously told the Financial Times that both borders need to be addressed.
Ursula von der Leyen goes to Egypt. Support for Africa
European Commission President Ursula von der Leyen will travel to Cairo on Sunday together with the prime ministers of Greece, Italy and Belgium to finalize and officially announce the agreement. The European Union is to be ready to immediately disburse EUR 1 billion of emergency financial assistance. However, another EUR 4 billion requires the consent of Member States. The remaining amount will be collected from the various EU funding sources already in force. Tunisia and Mauritania are to receive similar aid.
Source: Gazeta
At 247 News Agency, Jason has covered a wide range of topics, from politics and business to crime and entertainment. He is highly respected by his colleagues and peers, and his articles are widely read and shared. With a passion for news and a commitment to accuracy, Jason Root is a valuable asset to the 247 News Agency team.
