Egypt says it is expecting a further $1.7 billion from Europe within days

Egypt said on Saturday that it expects to receive a $1.7 billion package from the European Union within days.

It would be the first of two remaining tranches of a $5.7 billion macro-financial assistance package.

Egypt’s Foreign ​Minister Badr Abdelatty said Cairo hoped the last payment would be transferred ‌by ⁠the start of autumn.

The assistance package has become a cornerstone of Europe’s strategy to stabilise one of Africa’s largest economies.

Brussels increasingly views Egypt as a strategic partner amid its role in managing migration routes,its influence in regional conflicts,and Red Sea disruptions.

The EU funding comes as Cairo continues implementing economic reforms under an IMF-backed programme.

It is designed to restore macroeconomic stability after years of mounting external debt,high inflation,and foreign currency shortages.