European Parliament Approves Financial Aid Packages for Egypt and Jordan
MEPs support macro-financial assistance to bolster economic stability and structural reforms in the two countries.
In a recent session, the European Parliament approved financial aid packages for Egypt and Jordan aimed at supporting their economic stability and reform efforts.
The macro-financial assistance (MFA) for Egypt received 452 votes in favor, 182 against, and 40 abstentions, while the package for Jordan garnered 571 votes in favor, 59 against, and 46 abstentions.
The MFA for Egypt, proposed on March 15, 2024, seeks to address the country’s critical economic and financial challenges.
The package includes loans amounting to up to €5 billion, consisting of a short-term loan of up to €1 billion, which was disbursed at the end of 2024, along with a regular loan of up to €4 billion to be provided in three installments.
This funding is intended to enhance Egypt's role as a stabilizing presence in a region fraught with geopolitical tensions.
The assistance to Jordan marks the fourth MFA from the EU since 2013 and is designed to address the country’s financing needs, support ongoing structural reforms, and bolster fiscal consolidation.
An additional financial package was announced in January 2025 to assist Jordan with current financial challenges.
As a prerequisite to receiving the financial assistance, Jordan is required to uphold effective democratic mechanisms, including a multi-party parliamentary system, rule of law, and guarantees for human rights.
Celine Imart, the rapporteur from the European People's Party, stated that the vote reflects Parliament's commitment to support regional partners.
The quicker availability of funds for Jordan is highlighted, and negotiations regarding the Egyptian package are expected to proceed promptly following this approval.
The MFA for Jordan will undergo formal approval by the Council of the EU, while discussions regarding the Egyptian assistance package are anticipated to commence soon.
Both financial aid packages are part of broader EU initiatives to support partner countries grappling with various financial, economic, and societal challenges, facilitating structural reforms across the region.
The macro-financial assistance (MFA) for Egypt received 452 votes in favor, 182 against, and 40 abstentions, while the package for Jordan garnered 571 votes in favor, 59 against, and 46 abstentions.
The MFA for Egypt, proposed on March 15, 2024, seeks to address the country’s critical economic and financial challenges.
The package includes loans amounting to up to €5 billion, consisting of a short-term loan of up to €1 billion, which was disbursed at the end of 2024, along with a regular loan of up to €4 billion to be provided in three installments.
This funding is intended to enhance Egypt's role as a stabilizing presence in a region fraught with geopolitical tensions.
The assistance to Jordan marks the fourth MFA from the EU since 2013 and is designed to address the country’s financing needs, support ongoing structural reforms, and bolster fiscal consolidation.
An additional financial package was announced in January 2025 to assist Jordan with current financial challenges.
As a prerequisite to receiving the financial assistance, Jordan is required to uphold effective democratic mechanisms, including a multi-party parliamentary system, rule of law, and guarantees for human rights.
Celine Imart, the rapporteur from the European People's Party, stated that the vote reflects Parliament's commitment to support regional partners.
The quicker availability of funds for Jordan is highlighted, and negotiations regarding the Egyptian package are expected to proceed promptly following this approval.
The MFA for Jordan will undergo formal approval by the Council of the EU, while discussions regarding the Egyptian assistance package are anticipated to commence soon.
Both financial aid packages are part of broader EU initiatives to support partner countries grappling with various financial, economic, and societal challenges, facilitating structural reforms across the region.
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