EU back the Arab plan to rebuild Gaza: European Commission Vice President Kaja Kallas joined the meeting of the Arab-Islamic Ministerial Committee yesterday, where the parties backed Egypt’s USD 53 bn, five-year plan to reconstruct Gaza and “firmly rejected any attempts at annexation and unilateral measures that seek to alter the legal and historical status quo of the Holy Sites in Jerusalem,” according to a statement.

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The parties voiced their rejection of resumed hostilities in Gaza and the targeting of civilians, and stressed the need for a swift return to the ceasefire agreement brokered in January by Egypt, Qatar, and the US. They called for its immediate implementation, including “the release of all hostages, a permanent end to hostilities, and the full withdrawal of Israeli forces from Gaza, in line with United Nations Security Council Resolution 2735,” the statement reads.

The meeting also saw the participating parties reiterate their rejection of any displacement or expulsion of the Palestinian people and underscored the importance of supporting the Conference on the Early Recovery and Reconstruction of Gaza, which Cairo will host next month.

AND- Prime Minister Moustafa Madbouly met yesterday with his Palestinian counterpart Mohammad Mustafa to discuss ongoing efforts to maintain the Gaza ceasefire and push forward with reconstruction plans, according to a statement. Madbouly reaffirmed Egypt’s unwavering support for the Palestinian people and its commitment to rebuilding Gaza while ensuring residents remain on their land.

EU TO FAST-TRACK SECOND TRANCHE OF EGYPT’S ASSISTANCE PACKAGE-

Could Egypt see the promised EUR 4 bn from the EU sooner than expected? The European Union has agreed to fast-track the approval and disbursement of the second phase of the its macro-financial assistance and budget support program, worth EUR 4 bn, Foreign Minister Badr Abdelatty said a joint press with Kallas (watch, runtime: 33:59).

What are we waiting for: Abdelatty added that “the second tranche was approved by the European Parliament’s International Trade Committee and the European Parliament is expected to vote on the funds in the coming weeks.”

REMEMBER- Egypt received the first EUR 1 bn of the EUR 5 bn package late December and was expected to finalize its agreement with the EU to receive the remaining EUR 4 bn by June. The EUR 5 bn in concessional loans are part of a wider EUR 7.4 bn package of loans, grants, and investments we’re getting from the EU through 2027.

Regional developments were also on the agenda: Abdelatty welcomed the EU’s backing of the Arab plan to rebuild Gaza and invited the bloc to participate in both implementing the plan and partaking in the Gaza reconstruction conference Egypt is hosting next month. The two sides also touched on the situations in Syria and Lebanon.

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