Cairo: Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, announced that the European Union (EU) will release £1 billion to Egypt next Thursday, marking the second installment of the £5 billion financial support package for the country's economy.

According to State Information Service Egypt, Al-Mashat confirmed during a press conference that the third tranche, valued at £1.5 billion, is set to be disbursed in mid-2026, with a fourth tranche of £1.5 billion expected by the end of this year. In 2024, the EU unveiled a comprehensive £7.4 billion ($8.1 billion) financial package for Egypt, including £5 billion in concessional loans. The first £1 billion installment was provided in late December 2024.

An initial agreement was reached last year between the European Parliament and EU member states to deliver a £4 billion financial aid package to support Egypt's economy and strengthen cooperation within a strategic partnership framework. The European Parliament confirmed that the total value of the aid is £5 billion. Egypt received £1 billion as a short-term loan in late 2024, with the remaining £4 billion expected to be disbursed in the near future. The repayment period for this loan will extend up to 35 years.