Egypt is to receive 7.4 billion euros ($8 billion) in aid from the European Union to support its economy until 2027 amid the wars in Gaza and Sudan, according to reports.
According to the European Union, the aid comes against the background of the fear that the crises surrounding Egypt could deepen the economic challenges of the most populous Arab country and increase the pressure of migration from it to Europe.
Dimitris Keiridis, the Greek Minister of Immigration, explained that Egypt played a "critical key role" in curbing illegal immigration to the continent, in other words the Europeans are giving Egypt a "reward" for preventing immigration.
It should be mentioned that at the beginning of March the International Monetary Fund approved the increase of the support program for Egypt from 3 billion dollars to 8 billion dollars following the freeing of the exchange rate of the Egyptian pound and the sharp increase in interest rates.