The European Union (EU) is set to sign a financial assistance package worth €75 million to Egypt to support the country's social and economic development under the 2024 to 2027 cooperation framework.
The assistance will be channeled to strengthen access to education, health, clean water and sanitation systems, especially for women and young people.
The initiative also aims to increase Egypt's resilience to economic and social challenges and help the country stabilize its fiscal position in the long term.
The EU said the assistance is part of a broader commitment to strengthen the Strategic and Comprehensive Partnership between the two sides.
The cooperation will focus on six key areas including trade, investment, energy, security, migration and human resources development.
Egypt plays a key role in the stability of the Middle East region and is considered a key partner for Europe in migration management and regional security issues.
In addition to cash assistance, the EU also plans to channel additional loans that will increase the total amount of assistance to more than €7 billion over four years.
The move is seen as recognition of Egypt's role in regional diplomacy and efforts to stem the flow of refugees to Europe.
However, international observers have warned that the EU must ensure that the aid is also used to improve Egypt's human rights record.
