EU agrees €7.4 billion aid package for Egypt

Egyptian President Abdel-Fattah el-Sissi with European Commission president Ursula Von der Leyen, at the Presidential Palace in Cairo (Egyptian Presidency Media Office via AP)

The European Union on Sunday announced a €7.4 billion aid package for cash-strapped Egypt as concerns mount that economic pressure and conflicts in neighbouring countries could drive more migrants to European shores.

The deal, which drew criticism from rights groups over Egypt’s human rights record, was signed Sunday afternoon in Cairo in a ceremony attended by Egyptian President Abdel Fattah el-Sissi, European Commission President Ursula von der Leyen and leaders of Belgium, Italy, Austria, Cyprus and Greece.