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REPORT (COM(2024)0461 – C100009/2024 – 2024/0071(COD))

On the proposal for a decision of the European Parliament and of the Council on providing macro-financial assistance to the Arab Republic of Egypt

A-10-2025-0037

Committee on International Trade · Rapporteur: Céline Imart

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Parliament's amended version of the proposed decision on macro-financial assistance to Egypt provides up to EUR 4 billion in concessional loans, subject to conditions on democratic mechanisms, rule of law, and human rights. It requires the Commission to monitor and report regularly to Parliament and the Council on the fulfilment of pre-conditions and conditions, and to inform them without delay of any suspension or cancellation. The amendments also stress the need for Parliament's involvement in negotiating the Memorandum of Understanding and for safeguards on fundamental rights.

Committee position. The Committee on International Trade proposes to amend the Commission proposal, adding conditions on human rights, monitoring, and reporting, and updating references to the Financial Regulation.

Key points

  1. The Union shall make macro-financial assistance of up to EUR 4 billion available to Egypt in the form of concessional loans, subject to approval of the Union budget.
  2. A pre-condition is that Egypt continues to make concrete and credible steps towards respecting and strengthening effective democratic mechanisms, the rule of law, and human rights.
  3. The Commission and the European External Action Service shall monitor the fulfilment of the pre-condition and report regularly and in writing to Parliament and the Council.
  4. The Commission shall agree with Egyptian authorities on economic policy and financial conditions, including structural reforms, to be laid down in a Memorandum of Understanding.
  5. Conditions shall aim at enhancing efficiency, transparency, and accountability of public finance management, and take into account progress in mutual market opening, sustainable development, and good governance.
  6. If conditions are not met, the Commission shall suspend or cancel disbursement and inform Parliament and the Council without delay of the reasons.
  7. The Commission is empowered to borrow funds on capital markets or from financial institutions in accordance with Article 223 of Regulation (EU, Euratom) 2024/2509.
  8. Loans shall be granted with a maximum duration of 35 years, and the Commission shall inform Parliament and the Council of developments.
  9. The assistance shall be implemented in accordance with the Financial Regulation (EU, Euratom) 2024/2509.
  10. The Commission's assessment shall indicate the connection between Egypt's economic policy reforms, its fiscal performance, and the release of assistance, while outlining steps towards democratic mechanisms, rule of law, and human rights.

Who is affected

  • Egypt: receives up to EUR 4 billion in concessional loans, subject to conditions and monitoring.
  • The Commission: responsible for implementing, monitoring, and reporting on the assistance.
  • The European Parliament and the Council: to be informed regularly and without delay on suspension or cancellation.

Figures and deadlines

  • EUR 4 billion: maximum amount of macro-financial assistance in loans.
  • 35 years: maximum duration of the loans.

Legal basis: Article 294(2) and Article 212 of the Treaty on the Functioning of the European Union