Cairo: Egypt and the European Union have signed a significant agreement valued at pound 4 billion for the second phase of the Macro-Financial Assistance (MFA) program. This milestone event took place during the Egypt-EU Summit held in Brussels on October 23, 2025.

According to State Information Service Egypt, the signing ceremony was attended by prominent figures including President Abdel Fattah El-Sisi, European Commission President Ursula von der Leyen, and European Council President Ant³nio Costa. The agreement was formalized by Egypt's Minister of Planning and International Cooperation, Dr. Rania Al-Mashat, alongside European Commissioner for Economy Valdis Dombrovskis.

Dr. Al-Mashat emphasized that this new phase is a result of close collaboration between Egyptian institutions and the European Commission, focusing on 87 structural reforms as part of Egypt's National Structural Reform Program. The funding is intended to bolster macroeconomic stability, enhance competitiveness, support the green transition, and ensure debt sustainability.

In addition to the main agreement, Dr. Al-Mashat also signed a supplementary financing agreement worth pound 75 million with EU Commissioner for the Mediterranean Dubravka Å uica. This additional funding aims to support local social and economic reforms, improve access to essential services, and enhance livelihoods, particularly for low-income groups and refugees.