Egypt expects the remaining 4 billion euros (4.66 billion US dollars) of a 5 billion euro macro-financial assistance package from the European Union to be disbursed in three tranches by 2027, Foreign Minister Badr Abdelatty said on Thursday, according to Reuters.

The broader EU package, announced in 2024, totals 7.4 billion euros (8.1 billion US dollars) and combines concessional loans, investments, and grants. Reuters reports that part of the funding was intended to support Egypt amid economic pressures from the Gaza war, Houthi attacks in the Red Sea, and fallout from the conflict in Ukraine.

Egypt received the first 1 billion euro tranche in January, and Abdelatty said the next tranche, also worth 1 billion euros, is expected to be transferred in the coming days following the completion of the fifth and sixth programme reviews with the International Monetary Fund.

Speaking at a joint press conference in Cairo with EU top diplomat Kaja Kallas, Abdelatty framed the tranches as part of ongoing European engagement to stabilize Egypt’s finances.