The EU plans to fast-track some financial aid to Egypt. The usual funding safeguards will not apply
Friday, 29 March 2024
The European Union aims to fast-track up to $1.1 billion in financial aid to Egypt, using a funding procedure that bypasses parliamentary oversight and other safeguards. The funds are part of a bigger aid package under an EU-Egypt deal aimed partly at stopping migrants from reaching European shores. European Commission President Ursula von der Leyen says the money must be sent quickly due to Egypt's “rapidly deteriorating economic and fiscal situation.” June EU elections are likely to interfere with parliament's ability to approve the funds. Von der Leyen says it's “imperative" for a first payment to be made by year's end without parliamentary approval. A requirement for an impact assessment on the assistance will also be side-stepped.
|
||||
|
|
||||
You Might LikeRelated videos from verified sources
|
||||
![House GOP Advances Aid Bills for Israel, Ukraine and Taiwan [Video]](https://video.newsserve.net/300/v/20240419/1373180514-House-GOP-Advances-Aid-Bills-for-Israel-Ukraine.jpg)
