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Starting with a report published by Bloomberg, which said that the European Union is accelerating its efforts to deepen its relations with Egypt and help it deal with the worsening repercussions of the conflict between Israel and Hamas on its borders.
People familiar with the matter reported that European Commission President Ursula von der Leyen is planning to visit Cairo soon in order to advance efforts to support economic development in Egypt and mitigate the impact of the ongoing crisis.
The European Union was already exploring a partnership in this framework, but is currently seeking to accelerate this step given the strategic importance of Cairo, and concerns about increasing refugee flows, including from African countries such as Sudan. EU member states, including Germany and France, support the ongoing effort in this direction, although the timetable and final figures on it are still being prepared, said the insiders, who requested anonymity for the privacy of the discussions.
The plan will include 6 priorities covering the areas of economy, investments, migration, and security. On the economic level, the European Union seeks to explore options with member states in order to help Egypt address its heavy debt burden.
In addition, the Union is set to propose an investment plan aimed at pumping 9 billion euros ($9.8 billion) into sectors such as digital initiatives, energy, agriculture and transportation, interspersed with an investment forum scheduled to be held next spring. The plan also aims to reduce illegal immigration to Europe by assisting Egypt with border management, anti-smuggling measures, and voluntary returns.