{"id":663129,"date":"2025-03-27T00:00:00","date_gmt":"2025-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/27\/were-on-track-for-a-eur-4-bn-financing-agreement-with-the-eu\/"},"modified":"2025-03-27T00:00:00","modified_gmt":"2025-03-27T00:00:00","slug":"were-on-track-for-a-eur-4-bn-financing-agreement-with-the-eu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/27\/were-on-track-for-a-eur-4-bn-financing-agreement-with-the-eu\/","title":{"rendered":"We\u2019re on track for a EUR 4 bn financing agreement with the EU"},"content":{"rendered":"

Good afternoon, wonderful people, and congratulations on another successful <\/strong>workweek.<\/strong> The news cycle seems to be winding down as Eid inches closer, allowing for a shorter issue today that covers Egypt\u2019s latest financing MOU with the EU, all you need to know about the latest Trump tariffs, and insight on the future of journalism in the age of AI.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Egypt is closer to unlocking another EUR 4 bn from the EU:<\/strong> Egypt is set to sign an MoU with the EU on a previously agreed upon financing agreement worth EUR 4 bn in 2H 2025, Planning Minister Rania Al Mashat said<\/a> in a press conference on Wednesday. A visiting EU delegation has been conducting talks about the funds with Egyptian authorities since the start of the month, Al Mashat said, adding that she expects the financing to be adopted by all 27 members of the bloc in June.<\/p>\n

REMEMBER- <\/strong>The EU recently agreed to fast-track<\/a> the approval and disbursement of the tranche, which is the second part of a wider EUR 5 bn macro-financial assistance package. Egypt received the first EUR 1 bn<\/a> of the package late December and was expected to finalize its agreement<\/a> 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<\/a> of loans, grants, and investments we\u2019re getting from the EU through 2027.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The fallout from the latest Trump tariffs is dominating headlines in the int\u2019l press:<\/strong> Global auto markets plunged after US President Donald Trump announced a 25% tariff on imported cars<\/a> that\u2019s set to come into effect on 3 April. The pan-European STOXX 600 index dropped 0.8%<\/a> on Thursday morning before paring some of the losses, with its auto sector plummeting over 3.1%. Major manufacturers like Volkswagen, Porsche, and BMW saw substantial stock declines as bns of EUR were wiped from German auto stocks. Asian<\/a> automakers were also hard-hit, including Japan\u2019s Toyota and Honda, South Korea\u2019s Kia Motors, and China\u2019s Nio and Xpeng.<\/p>\n

The move sparked backlash and threats of retaliation from foreign governments. <\/strong>European Commission President Ursula von der Leyen condemned the tariffs as \"bad for businesses, worse for consumers.\" Canadian Prime Minister Mark Carney described the move as a \u201cdirect attack,\u201d asserting that the country would defend itself against it, while Finance Minister Eric Lombard said that \"the only solution for the European Union will be to raise tariffs on American products.\u201d<\/p>\n

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