The European Union has entered into an $8bn agreement with Egypt, involving a €7.4bn deal aimed at increasing energy imports from Egypt to help Europe reduce its reliance on Russian gas. This deal has sparked controversy, with EU leaders being accused of 'rewarding repression' by supporting Egypt's government, led by Abdel Fattah el-Sisi, amidst concerns over human rights abuses and an attempt to curtail migration across the Mediterranean. Critics argue this move is influenced by fears of the far right gaining momentum in the upcoming European Parliament elections. The deal is expected to include billions in loans over the coming years. Additionally, the World Bank has announced plans to provide over $6bn in support to Egypt over the next three years, aiming to bolster the country's economy by supporting the government's programs and the private sector, with a focus on renewable energy in collaboration with the European Bank for Reconstruction and Development (EBRD). This partnership intends to protect the poor and vulnerable affected by economic challenges.
The World Bank plans on providing more than $6 billion in support to Egypt over the coming three years, the latest effort to shore up the North African nation's economy https://t.co/5xXzTTwm75
The World Bank plans on providing more than $6 billion in support to Egypt over the coming three years, the latest effort to shore up the North African nation's economy https://t.co/f9T1ITlKx9
The World Bank plans on providing more than $6 billion in support to Egypt over the coming three years, the latest effort to shore up the North African nation's economy https://t.co/oGkKGkp8SC
The World Bank Group intends to provide more than $6bn of support to #Egypt, including $3bn for financial support to Government’s programs and $3bn for private sector over the coming three years https://t.co/A6D6RfnawC
The @WorldBank Group's ongoing partnership with #Egypt is focused on strengthening the private sector and protecting the poor and vulnerable who are hit hardest by economic challenges. Read the latest statement from the World Bank Group on #Egypt: https://t.co/A2x4yrF7bT
European Union leaders are so worried about migration fueling the far right in the coming European Parliament elections that they are willing to send €7.4B to Egypt's brutal dictator, Abdel Fattah el-Sisi, for promising to help stop it. https://t.co/WXueTzOuPx
This shows how the European Union abandons its values to prop up a brutal dictator just because he promises to help curtail migration across the Mediterranean. https://t.co/VZ9bwb0wU9
#Egypt, -@EBRD collaboration boosts private sector role in renewable energy Read more: https://t.co/8Oz784YCzO https://t.co/XYTqicQEQh
Egypt's $8bn deal with the EU is set to include billions in loans over coming years, and aims to step up Egyptian energy imports to help Europe "move further away from Russian gas", a senior European Commission official told reporters https://t.co/9iVT624eUw
EU leaders accused of ‘rewarding repression’ with €7.4bn Egypt deal https://t.co/6UTxlHogzY