Arab Finance: Egypt and the European Union (EU) are set to strike a strategic partnership soon, a move that could lure billions of euros in financing and investments to the North African country, Bloomberg reported.

The European Commission President Ursula von der Leyen is visiting Cairo with the prime ministers of Italy, Greece, and Belgium on March 17^th.

The bloc is considering an aid package worth about €7.4 billion for Egypt. The financing will be a mix of grants and loans to assist the country’s economic situation.

On March 13^th, it was reported that the EU is preparing a financing package valued at €7.4 billion for Egypt to boost its economy amid the current geopolitical risks in Gaza and Sudan.

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