bloomberg.com
EU Speeds Up Plan to Bolster Egypt Amid Israel-Gaza Crisis
Jorge Valero
3–4 minuti
The European Union is trying to speed up efforts to deepen its relationship with Egypt and help the country address the growing fallout from the Israel-Hamas conflict on its border.
European Commission President Ursula von der Leyen is planning to visit Cairo soon to advance efforts to support Egypt’s economic development and cushion the impact of the ongoing crisis, people familiar with the matter said.
The EU was already exploring a partnership but now wants to accelerate the push given Cairo’s strategic significance and concerns about increasing refugee flows, including from African nations like Sudan.
Member states including Germany and France are supportive of the ongoing work, although the timeline and final figures are still being worked out, the people said on condition of anonymity because the discussions are private.
Ursula von der Leyen.Photographer: Simon Wohlfahrt/Bloomberg
The plan will include half a dozen priorities ranging from economy and investments to migration and security. On the economic front, the European bloc wants to explore options with member states to help Egypt address its heavy debt burden.
In addition, the EU will propose an investment plan that would aim to mobilize €9 billion ($9.8 billion) in sectors such as digital, energy, agriculture and transport, punctuated by an investment forum planned for next spring.
The plan would also seek to curb illegal migration to Europe by helping Egypt with border management, anti-smuggling measures and voluntary returns.
The European Commission declined to comment.
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