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Cypriot MEP Hadjipantela and Egypt's FM discuss EU macro-financial assistance

07:49 - 22 January 2025

Economy Reporter

DISY and EPP MEP Michalis Hadjipantela discussed the EU's Macro-Financial Assistance (MFA) to Egypt with the Egyptian Foreign Minister Dr. Badr Abdelatty on the sidelines of the European Parliament's plenary session in Strasbourg.

According to an announcement, the 21 January meeting took place at the Parliament’s seat following a request by the Egyptian Minister to meet with Hadjipantela as the shadow rapporteur of the EPP for the financial assessment concerning the €4 billion MFA.

During the meeting, Hajipantela expressed optimism for the approval of the proposal by the European Parliament's Plenary, as the funding will ensure that the agreement to strengthen Egypt's border security and prevent the arrival of refugees and migrants in Cyprus is respected. He added that "the solution to the migration issue is provided by Europe” and that "through the EU, solutions can be provided to all the problems that concern Cypriot citizens."

The EU agreed to provide Egypt with a total funding of €7.4 billion for the period 2024 - 2027, with the aim of strengthening cooperation in the fields of economic development and migration management.

The Macro-Financial Assistance (MFA) is a European Union instrument that provides financial assistance to non-EU countries facing serious economic difficulties, the announcement concludes.

(Source: CNA)

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