EU Offers €7.4 Billion to Egypt: Bolstering Economy, Curbing Migration

Sudanese migrants on the banks of the Nile in Egypt. The planned aid package includes help for Cairo to deal with the large numbers fleeing its neighbour’s civil war © AFP

Brussels Steps Up: The European Union (EU) is throwing Egypt a €7.4 billion lifeline until 2027 in a strategic move to bolster the North African nation’s economy and preempt a potential migration crisis. This significant aid package comes amid growing concerns about the impact of regional conflicts in Gaza and Sudan on Egypt’s stability.

The proposed deal, to be finalized during a high-level visit to Cairo by EU leaders, signifies the latest chapter in the bloc’s efforts to promote stability in its southern neighborhood. Similar agreements with Tunisia and Mauritania have offered financial incentives in exchange for stricter border controls, despite facing criticism on human rights grounds and their overall effectiveness.

Deal Details:

€1 Billion Quick Fix: The package includes €1 billion in immediate financial aid, with an additional €4 billion linked to IMF reforms.
€4 billion contingent on IMF reforms, needing EU member state approval.
Dual Border Focus: The EU aims to strengthen Egypt’s borders with Sudan (curbing refugee influx) and Libya (stopping migrant crossings to Europe).

Realpolitik at Play: The EU defends the deal as a necessary tool despite human rights considerations. The deal primarily focuses on curbing migration, with a dual border strategy to manage migration flashpoints.

EU officials emphasize the strategic importance of the package, focusing on fortifying security at two critical borders:

Sudan-Egypt Border: The ongoing civil war in Sudan has triggered a surge in refugees fleeing to Egypt. The EU aims to support Egypt in managing this humanitarian crisis.
Egypt-Libya Border: This porous border serves as a transit route for migrants attempting to reach Europe. Strengthening border control at this point is a key EU objective.

Going Forward: The success of this strategy hinges on effectively managing both economic and humanitarian concerns while navigating the complexities of human rights considerations.

For more: Laura Dubois, Henry Foy and Paola Tamma, Financial Times, Brussels prepares €7.4bn aid package for Egypt