European Commission President Ursula von der Leyen stated that the European Union (EU) will support Egypt with five billion euros to finance small and micro-enterprises, emphasizing the bloc’s backing for Egypt’s economic stability.
Speaking at a joint press conference in Brussels on Wednesday, following a high-level Egypt-EU summit, Von der Leyen, joined by Egyptian President Abdel Fattah al-Sisi and European Council President António Costa, affirmed that the EU is Egypt’s largest trading partner, with investments reaching €49 billion last year.
She also confirmed the EU’s support for Egypt’s ambition to become a regional energy hub.
Von der Leyen also noted the EU’s intention to launch platforms aimed at accelerating the adoption of renewable and clean energy and fostering industrial cooperation between the EU and its southern neighbor, Egypt.
The EU will grant Egyptians free access to the bloc’s Artificial Intelligence (AI) platforms and full computing capabilities, she added.
Support for migrant hosting and security cooperation
The Commission President commended Egypt’s “great generosity” in its sovereignty by hosting millions of refugees and migrants, clarifying that Cairo will receive €200 million over the next two years. She also praised Egypt for demonstrating “remarkable efforts in combating smugglers and irregular migrants.”
The European official stressed the drive to improve opportunities for legal migration, mentioning plans to hold joint workshops in 2026. She added that the partnership with Egypt is firmly centered on security.
She valued Egypt’s efforts in fighting terrorism and money laundering, noting that the partnership is now evolving to focus on people and ideas.
Von der Leyen concluded her remarks by stating, “The partnership with you is good news for Europe and is extremely important.”
Comprehensive strategic partnership
The first Egypt-EU summit was held in Brussels on Wednesday, following the signing of the Comprehensive Strategic Partnership in March 2024.
This partnership is built on six main pillars: political relations, economic stability, trade and investment, migration and mobility, and the protection of demography and human capital.
The partnership includes a financial and investment package totaling €7.4 billion for the period between 2024 and 2027.
The agreement has already established a free trade area through the elimination of customs tariffs on industrial products and the facilitation of trade in agricultural goods.
EU pledges €5 billion for Egypt’s small businesses Egypt Independent.
Hence then, the article about eu pledges 5 billion for egypt s small businesses was published today ( ) and is available on EGYPT INDEPENDENT ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( EU pledges €5 billion for Egypt’s small businesses )
Also on site :
- My Daughter’s Friend Has a Crush on My Husband. It’s Making Us Both Deeply Uncomfortable.
- Maga’s biggest fear is coming true and Trump won’t survive it
- Manchester United vs Newcastle Prediction: Heavyweights Meet in Premier League’s Only Boxing Day Clash