Brussels, Belgium — Members of the European Parliament have approved two proposals to provide Egypt and Jordan with loans worth €4 billion ($4.32 billion) and €500 million, respectively.
The Parliament adopted the macro-financial assistance to Egypt with 452 votes in favor, 182 against and 40 abstentions. The proposal for Jordan was passed with 571 votes in favor, 59 against and 46 abstentions.
The European Commission proposed support for Egypt on 15th March 2024, in the form of macro-financial assistance through loans amounting to up to €5 billion. This included a short-term loan of up to €1 billion, which was already disbursed at the end of 2024, and a regular loan of up to €4 billion to be disbursed in three instalments. The Parliament approved this proposal.
As for Jordan, the loan is intended to help cover financing needs, support structural reforms and contribute to fiscal consolidation efforts.
