REPORT 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

24.3.2025 - (COM(2024)0461 – C10‑0009/2024 – 2024/0071(COD)) - ***I

Committee on International Trade
Rapporteur: Céline Imart

Amendments

• 001-028 (PDF - 140 KB)
• 001-028 (DOC - 40 KB)
• 029-032 (PDF - 104 KB)
• 029-032 (DOC - 40 KB)
• 033-037 (PDF - 118 KB)
• 033-037 (DOC - 29 KB)
• 038-038 (PDF - 103 KB)
• 038-038 (DOC - 28 KB)
• 039-044 (PDF - 133 KB)
• 039-044 (DOC - 31 KB)
• 045-049 (PDF - 129 KB)
• 045-049 (DOC - 30 KB)
• 050-050 (PDF - 181 KB)
• 050-050 (DOC - 61 KB)
• 051-051 (PDF - 94 KB)
• 051-051 (DOC - 71 KB)

DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

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

(COM(2024)0461 – C10‑0009/2024 – 2024/0071(COD))

(Ordinary legislative procedure: first reading)

The European Parliament,

– having regard to the Commission proposal to Parliament and the Council (COM(2024)0461),

– having regard to Article 294(2) and Article 212 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C10‑0009/2024),

– having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

– having regard to the budgetary assessment by the Committee on Budgets,

– having regard to Rule 60 of its Rules of Procedure,

– having regard to the opinion of the Committee on Foreign Affairs,

– having regard to the report of the Committee on International Trade (A10-0037/2025),

1. Adopts its position at first reading hereinafter set out;

2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

 

 

Amendment  1

Proposal for a decision

Recital 1 a (new)

Text proposed by the Commission	Amendment
	(1a) This Decision has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations.

Amendment  2

Proposal for a decision

Recital 2 a (new)

Text proposed by the Commission	Amendment
	(2a) On 17 March 2024, Egypt and the European Union jointly decided to upgrade their relations to a strategic and comprehensive partnership, based on the values of equity and mutual respect and trust in order to strengthen their common stability, peace and prosperity.

Amendment  3

 

Proposal for a decision

Recital 3

Text proposed by the Commission	Amendment
(3) In line with the Partnership Priorities, the EU and Egypt are committed to ensuring accountability, the rule of law, the full respect of human rights, fundamental freedoms, promoting democracy, gender equality and equal opportunities as constitutional rights of all their citizens. These commitments contribute to the advancement of the partnership and to Egypt’s sustainable development and stability. The increased and constructive engagement between the EU and Egypt in the last period has opened the path to more meaningful dialogue on human rights related issues. The subcommittee on Political Matters, Human Rights and Democracy, International and Regional issues of December 2022 and the Association Committee of May 2023 provided the institutional platforms to exchange on an array of human rights issues, which the EU would like to continue and build on. The improvement of the human rights situation in Egypt will have a positive impact on EU-Egypt relations.	(3) In line with the Partnership Priorities, the EU and Egypt are committed to ensuring accountability, the rule of law, the full respect of human rights, fundamental freedoms, promoting democracy, gender equality and equal opportunities as constitutional rights of all their citizens. These commitments contribute to the advancement of the partnership and to Egypt’s sustainable development, good governance and socio-economic stability. The increased and constructive engagement between the EU and Egypt in the last period has opened the path to more meaningful dialogue on human rights related issues. The subcommittee on Political Matters, Human Rights and Democracy, International and Regional issues of December 2022 and the Association Committee of May 2023 provided the institutional platforms to exchange on an array of human rights issues, which the EU would like to continue and build on. The steady improvement of the human rights situation and women's rights and fundamental freedoms due to an active, coherent and proactive policy in that area in Egypt will have a positive impact on EU-Egypt relations.

Amendment  4

Proposal for a decision

Recital 3 a (new)

Text proposed by the Commission	Amendment
	(3a) Egypt's economic and financial situation has been marked by several macroeconomic adjustment programmes implemented under the aegis of the IMF in exchange for credit facilities (USD 12 billion from 2016 to 2019 and USD 3 billion in 2022, rising to USD 8 billion in March 2024);

Amendment  5

 

Proposal for a decision

Recital 5

Text proposed by the Commission	Amendment
(5) The EU recognises Egypt's key role for regional security and stability. Terrorism, organised crime and conflicts are common threats against our security and the social fabric of nations across both sides of the Mediterranean. Therefore, the EU and Egypt have a common interest in strengthening cooperation highlighted in the Partnership Priorities, in full compliance with international law, including human rights and international humanitarian law.	(5) The EU recognises Egypt's key role for regional security and stability. Terrorism, organised crime, such as human trafficking, irregular migration, and conflicts, are common threats against our security and the social fabric of nations across both sides of the Mediterranean. Similarly, energy is also one of the most pressing challenges facing countries on both sides of the Mediterranean. The Energy Cooperation between the Union and Egypt in the Eastern Mediterranean could not only offer a source of economic prosperity for the region but also strengthen energy security for the Union by diversifying energy supplies and encouraging regional collaboration. In that respect, the East Mediterranean Gas Forum serves as a platform of positive regional cooperation. Therefore, the EU and Egypt have a common interest in strengthening cooperation highlighted in the Partnership Priorities, in full compliance with international law, including the International Law of the Sea, human rights and international humanitarian law.

Amendment  6

 

Proposal for a decision

Recital 6

Text proposed by the Commission	Amendment
(6) Recalling the geo-political challenges, such as the consequences of Hamas terrorist attacks across Israel on 7 October 2023 as well as the conflict in Sudan, and the strategic importance of Egypt as the largest country in the region and a pillar of stability for the whole Middle East, the Union is embarking on concluding a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.	(6) Recalling the global and regional geo-political challenges, such as the humanitarian crisis in Gaza, resulting from the aftermath of the Hamas terrorist attacks across Israel on 7 October 2023, the escalating tensions in the Horn of Africa and the safety of navigation in the Red Sea and the Suez Canal, as well as migratory pressure from the conflict in Sudan, uncertainties in Syria, the instability in Libya, Egypt’s responsibilities as a host to large numbers of refugees and migrants and the strategic importance of Egypt as the largest country in the region and a pillar of stability for the whole Middle East, the Union has embarked on a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.

Amendment  7

 

Proposal for a decision

Recital 7

Text proposed by the Commission	Amendment
(7) The objective of the Strategic and Comprehensive Partnership with Egypt is to elevate the EU-Egypt political relations to a strategic partnership and enable Egypt to fulfil its key role of providing stability in the region. The partnership aims to contribute to support Egypt’s macroeconomic resilience and enable the implementation of ambitious socio-economic reforms in a manner that complements and reinforces the reform process foreseen under the IMF programme for Egypt. As outlined in the Joint Declaration, the partnership will address a wide set of policy measures clustered across six pillars of intervention, namely: political relations; economic stability; investment and trade; migration; security and law enforcement cooperation; demography and human capital.	(7) The objective of the Strategic and Comprehensive Partnership with Egypt is to elevate the EU-Egypt political relations to a strategic partnership and enable Egypt to fulfil its key role of providing stability in the region, the Middle East and North Africa. The partnership aims to contribute to support Egypt’s macroeconomic resilience and enable the implementation of ambitious socio-economic reforms in a manner that complements and reinforces the reform process foreseen under the IMF programme for Egypt. As outlined in the Joint Declaration, the partnership will address a wide set of policy measures clustered across six pillars of intervention, namely: political relations; economic stability; investment and trade; irregular migration and mobility in respect of human rights; security and law enforcement cooperation; demography and human capital. Such Strategic and Comprehensive Partnership should be developed in line with initiatives at Union and Member State level such as the Global Gateway and the Mattei Plan for Africa.

Amendment  8

 

Proposal for a decision

Recital 8

Text proposed by the Commission	Amendment
(8) Underpinning the partnership will be a financial package of EUR 7.4 billion consisting of short- and longer-term support for the necessary macro-fiscal and socio-economic reform agenda, as well as increased amounts available to support investments in Egypt and targeted support for the implementation of the different strategic priorities. Part of the support package is the EU MFA package of up to EUR 5 billion in loans, composed of two MFA operations, one short-term for up to EUR 1 billion and a regular, more medium-term one for up to EUR 4 billion, financial instruments, such as guarantees and blending instruments, aimed at mobilising public and private investments with the objective of generating substantial new investments. This will be complemented by programmes to support specific priorities under the Strategic and Comprehensive Partnership through individual projects and technical assistance implemented under the Neighbourhood, Development and International Cooperation Instrument2 .	(8) Underpinning the partnership is a financial package of EUR 7.4 billion consisting of short- and longer-term support for the necessary macro-fiscal and socio-economic reform agenda, as well as increased amounts available to support investments in Egypt and targeted support for the implementation of the different strategic priorities, particularly in terms of irregular migration and renewable energy. Part of the support package is the EU MFA package of up to EUR 5 billion in concessional loans, composed of two MFA operations, one short-term for up to EUR 1 billion and a regular, more medium-term one for up to EUR 4 billion, financial instruments, such as guarantees and blending instruments, aimed at mobilising public and private investments that benefit the majority of Egyptians with the objective of generating substantial new investments. This will be complemented by programmes to support specific priorities under the Strategic and Comprehensive Partnership through individual projects and technical assistance implemented under the Neighbourhood, Development and International Cooperation Instrument2.
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2 Established by Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU and repealing Regulation (EU) 2017/1601 and Council Regulation (EC, Euratom) No 480/2009 (OJ L 209, 14.6.2021, p. 1)	2 Established by Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU and repealing Regulation (EU) 2017/1601 and Council Regulation (EC, Euratom) No 480/2009 (OJ L 209, 14.6.2021, p. 1)

Amendment  9

 

Proposal for a decision

Recital 9

Text proposed by the Commission	Amendment
(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and of Hamas terrorist attacks against Israel have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism and Suez Canal proceeds. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios.	(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and the geopolitical tensions and conflicts in the Middle East have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism, Suez Canal proceeds and gas production and loss of confidence among foreign investors. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios. Despite that difficult external context, in 2024 Egypt was able to implement reforms, such as the unification of exchange rates and making progress in tightening monetary policy, to help preserve macroeconomic stability.

Amendment  10

Proposal for a decision

Recital 12

Text proposed by the Commission	Amendment
(12) Egypt re-engaged with the IMF in early 2024 and reached a staff-level agreement on 6 March 2024 on a revamped Extended Fund Facility programme scaled up to USD 8 billion. The new programme is expected to be adopted by IMF Executive Board decision in March 2024 and aims to address the areas of 1) credible exchange rate flexibility, 2) sustainable tightening of monetary policy, 3) fiscal consolidation to preserve debt sustainability, 4) a new framework to rein in infrastructure spending, 5) providing adequate levels of social spending to protect vulnerable groups, and 6) implementation of the State Ownership Policy and reforms to level the playing field. Together with the staff level agreement’s signature, Egypt also enacted a flexibilisation of the exchange rate, and raised the central bank’s key policy rate by a sizeable 600 basis points, in line with the IMF programme’s priorities.	(12) Egypt re-engaged with the IMF in early 2024 and reached a staff-level agreement on 6 March 2024 on a revamped Extended Fund Facility programme scaled up to USD 8 billion. Negotiations at expert level on the fourth revision of Egypt's economic reform programme were concluded in December 2024. The new programme aims to address the areas of 1) credible exchange rate flexibility, 2) sustainable tightening of monetary policy, 3) fiscal consolidation to preserve debt sustainability, 4) a new framework to rein in infrastructure spending, 5) providing adequate levels of social spending to protect vulnerable groups from the cost of living and energy price rises, and 6) implementation of the State Ownership Policy and reforms to level the playing field by promoting the development of the private sector in the economy. Together with the staff level agreement’s signature, Egypt also enacted a flexibilisation of the exchange rate, and raised the central bank’s key policy rate by a sizeable 600 basis points, in line with the IMF programme’s priorities.

Amendment  11

Proposal for a decision

Recital 16

Text proposed by the Commission	Amendment
(16) Given that there is still a significant residual external financing gap in Egypt's balance of payments over and above the resources provided by the IMF and other multilateral institutions, the Union macro-financial assistance to be provided to Egypt is, under the current exceptional circumstances, considered to be an appropriate response to Egypt's request for support to the economic stabilisation, in conjunction with the IMF programme. The Union's macro-financial assistance package, including the MFA of up to EUR 4 billion under this proposal, would support the economic stabilisation and the structural reform agenda of Egypt, supplementing resources made available under the IMF's financial arrangement.	(16) Given that there is still a significant residual external financing gap in Egypt's balance of payments over and above the resources provided by the IMF and other multilateral institutions and regional partners, the Union macro-financial assistance to be provided to Egypt is, under the current exceptional circumstances, considered to be an appropriate response to Egypt's request for support to the economic stabilisation, in conjunction with the IMF programme. The Union's macro-financial assistance package, including the MFA of up to EUR 4 billion under this proposal, would support the economic stabilisation and the structural reform agenda of Egypt, supplementing resources made available under the IMF's financial arrangement.

Amendment  12

 

Proposal for a decision

Recital 19

Text proposed by the Commission	Amendment
(19) The Commission should ensure that the Union's macro-financial assistance is legally and substantially in line with the key principles, objectives and measures taken within the different areas of external action and with other relevant Union policies.	(19) The Commission should ensure that the Union's macro-financial assistance is legally and substantially in line with the key principles, objectives and measures taken within the different areas of external action and with other relevant Union policies, including those relating to democracy, human rights and rule of law, in line with Article 2 of the EU-Egypt Association Agreement.

Amendment  13

 

Proposal for a decision

Recital 22

Text proposed by the Commission	Amendment
(22) A pre-condition for granting the Union's macro-financial assistance to Egypt should be that the country continues to make concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Egypt and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. The fulfillment of the pre-condition and the achievement of the specific objectives should be regularly monitored by the Commission services and the European External Action Service.	(22) Macro-financial assistance should remain an economic instrument. However, a pre-condition for granting the Union's macro-financial assistance to Egypt should be that the country continues to make concrete, credible and tangible steps towards respecting and strengthening effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guaranteeing respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Egypt and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. The fulfillment of the pre-condition and the achievement of the specific objectives should be regularly monitored by the Commission services and the European External Action Service.

Amendment  14

Proposal for a decision

Recital 23

Text proposed by the Commission	Amendment
(23) In order to ensure that the Union’s financial interests linked to the Union’s macro-financial assistance are protected efficiently, Egypt should take appropriate measures relating to the prevention of, and fight against, fraud, corruption and any other irregularities linked to the assistance. In addition, a loan agreement to be concluded between the Commission and the Egyptian authorities should contain provisions authorising European Anti-Fraud Office (OLAF) to carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council3 and Council Regulation (Euratom, EC) No 2185/964 , the Commission and the Court of Auditors to carry out audits and the European Public Prosecutor’s Office to exercise its competences with regard to the provision of the Union’s macro-financial assistance during and after its availability period.	(23) It is essential to underline that Egypt has to meet the necessary economic pre-condition for eligibility. Egypt has demonstrated its solvency and financial stability, which have been verified by the Commission. However, in order to ensure that the Union’s financial interests linked to the Union’s macro-financial assistance are protected efficiently. Egypt should take appropriate measures relating to the prevention of, and fight against, fraud, corruption and any other irregularities linked to the assistance. In addition, a loan agreement to be concluded between the Commission and the Egyptian authorities should contain provisions authorising European Anti-Fraud Office (OLAF) to carry out investigations, including on-the-spot checks and inspections, in accordance with the provisions and procedures laid down in Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council3 and Council Regulation (Euratom, EC) No 2185/964 , the Commission and the Court of Auditors to carry out audits and the European Public Prosecutor’s Office to exercise its competences with regard to the provision of the Union’s macro-financial assistance during and after its availability period.
__________________	__________________
3 Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1).	3 Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council of 11 September 2013 concerning investigations conducted by the European Anti-Fraud Office (OLAF) and repealing Regulation (EC) No 1073/1999 of the European Parliament and of the Council and Council Regulation (Euratom) No 1074/1999 (OJ L 248, 18.9.2013, p. 1).
4 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities’ financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2).	4 Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities’ financial interests against fraud and other irregularities (OJ L 292, 15.11.1996, p. 2).

Amendment  15

 

Proposal for a decision

Recital 26

Text proposed by the Commission	Amendment
(26) The Union's macro-financial assistance should be managed by the Commission. In order to ensure that the European Parliament and the Council are able to follow the implementation of this Decision, the Commission should regularly inform them of developments relating to the assistance and provide them with relevant documents.	(26) The Union's macro-financial assistance should be managed by the Commission. In order to ensure that the European Parliament and the Council are able to follow the implementation of this Decision, the Commission should regularly inform them with an annual report of developments relating to the assistance and on respect for effective democratic mechanisms, as per the pre-conditions referred to in this Decision, and provide them with relevant documents.

Amendment  16

 

Proposal for a decision

Recital 28

Text proposed by the Commission	Amendment
(28) The Union's macro-financial assistance should be subject to economic policy conditions, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Egyptian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Egypt, the examination procedure should apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance.	(28) The Union's macro-financial assistance should be subject to sustainable economic policy reforms, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Egyptian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Egypt, the examination procedure should apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance.

Amendment  17

 

Proposal for a decision

Article 1 – paragraph 1

Text proposed by the Commission	Amendment
1. The Union shall make macro-financial assistance of a maximum amount of up to EUR 4 billion available to Egypt ("the Union's macro-financial assistance"), with a view to supporting Egypt's economic stabilisation and a substantive reform agenda. The release of the Union's macro-financial assistance is subject to the approval of the Union budget for the relevant year by the European Parliament and the Council. The assistance shall contribute to covering Egypt's balance of payments needs as identified in the IMF programme.	1. The Union shall make macro-financial assistance in the form of concessional loans of a maximum amount of up to EUR 4 billion available to Egypt ("the Union's macro-financial assistance"), with a view to supporting Egypt's socio-economic stabilisation and a substantive structural reform agenda, as well as its responsibility to mitigate the effects of irregular migration and managing migratory flows. The release of the Union's macro-financial assistance is subject to the approval of the Union budget for the relevant year by the European Parliament and the Council. The assistance shall contribute to covering Egypt's balance of payments needs as identified in the IMF programme.

Amendment  18

Proposal for a decision

Article 1 – paragraph 3 a (new)

Text proposed by the Commission	Amendment
	3a. Macro-financial assistance may, as far as possible, contribute to the Union's growth and economic resilience.

Amendment  19

 

Proposal for a decision

Article 2 – paragraph 1

Text proposed by the Commission	Amendment
1. A pre-condition for granting the Union's macro-financial assistance shall be that Egypt continues to make concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights.	1. A pre-condition for granting the Union's macro-financial assistance shall be that Egypt continues to make concrete and credible steps towards respecting and strengthening effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and continues to make efforts in order to guarantee respect for human rights.

Amendment  20

 

Proposal for a decision

Article 2 – paragraph 2

Text proposed by the Commission	Amendment
2. The Commission services and the European External Action Service shall monitor the fulfilment of this pre-condition throughout the life-cycle of the Union's macro-financial assistance.	2. The Commission services and the European External Action Service shall monitor the fulfilment of this pre-condition throughout the life-cycle of the Union's macro-financial assistance and report, regularly and in writing, to the European Parliament and the Council on the fulfilment of the economic policy and financial conditions set out in the Memorandum of Understanding.

Amendment  21

Proposal for a decision

Article 3 – paragraph 1

Text proposed by the Commission	Amendment
1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Egyptian authorities on clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, to which the Union's macro-financial assistance is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the achievement of those reforms. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Egypt with the support of the IMF.	1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Egyptian authorities on clearly defined economic policy and financial conditions, focusing on structural reforms, such as the new criminal procedure reform, and sound public finances, to which the Union's macro-financial assistance is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the achievement of those reforms. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Egypt with the support of the IMF.

Amendment  22

 

Proposal for a decision

Article 3 – paragraph 2

Text proposed by the Commission	Amendment
2. The conditions referred to in paragraph 1 shall aim, in particular, at enhancing the efficiency, transparency and accountability of the public finance management systems in Egypt, including for the use of the Union's macro-financial assistance. Progress in mutual market opening, the development of rules-based and fair trade, and other priorities in the context of the Union's external policy shall also be duly taken into account when designing the policy measures. Progress in attaining those objectives shall be regularly monitored by the Commission.	2. The economic policy and financial conditions referred to in paragraph 1 shall aim, in particular, at enhancing the efficiency, transparency and accountability of the public finance management systems in Egypt, including for the use of the Union's macro-financial assistance. Progress in mutual market opening, including for SMEs, the development of rules-based and fair trade, sustainable development, good governance and other priorities in the context of the Union's external policy shall also be duly taken into account when designing the policy measures. Progress in attaining those objectives shall be regularly monitored by the Commission.

Amendment  23

Proposal for a decision

Article 4 – paragraph 4

Text proposed by the Commission	Amendment
4. Where the conditions in paragraph 3 are not met, the Commission shall temporarily suspend or cancel the disbursement of the Union's macro-financial assistance. In such cases, it shall inform the European Parliament and the Council of the reasons for that suspension or cancellation.	4. Where the conditions in paragraph 3 are not met, the Commission shall temporarily suspend or cancel the disbursement of the Union's macro-financial assistance. In such cases, it shall inform the European Parliament and the Council without delay of the reasons for that suspension or cancellation.

Amendment  24

Proposal for a decision

Article 5 – paragraph 1

Text proposed by the Commission	Amendment
(1) In order to finance the support under the macro-financial assistance in the form of loans, the Commission shall be empowered, on behalf of the Union, to borrow the necessary funds on the capital markets or from financial institutions in accordance with Article 220a of Regulation (EU, Euratom) 2018/1046.	1. In order to finance the support under the macro-financial assistance in the form of loans, the Commission shall be empowered, on behalf of the Union, to borrow the necessary funds on the capital markets or from financial institutions in accordance with Article 223 of Regulation (EU, Euratom) 2024/2509.

 

Amendment  25

Proposal for a decision

Article 5 – paragraph 2

Text proposed by the Commission	Amendment
(2) The Commission shall enter into a loan agreement with Egypt in respect of the amount referred to in Article 1. The detailed terms of the support under the MFA in the form of loans shall be laid down in a loan agreement in accordance with Article 220 of the Financial Regulation, to be concluded between the Commission and the Egyptian authorities. The loan agreement shall lay down the availability period and the detailed terms of the support under the macro-financial assistance in the form of loans, including in relation to the internal control systems. The loans shall be granted at terms that allow Egypt to repay the loan over a long period, including a possible grace period. The maximum duration of the loans shall be 35 years. The Commission shall inform the European Parliament and the Council of developments in the operations referred to in paragraph 3.	2. The Commission shall enter into a loan agreement with Egypt in respect of the amount referred to in Article 1. The detailed terms of the support under the MFA in the form of loans shall be laid down in a loan agreement in accordance with Article 223 of the Financial Regulation, to be concluded between the Commission and the Egyptian authorities. The loan agreement shall lay down the availability period and the detailed terms of the support under the macro-financial assistance in the form of loans, including in relation to the internal control systems. Egypt shall reimburse the loan, which shall be granted at terms that allow its repayment over a long period, including, after a formal notification to the European Parliament and the Council, a possible grace period. The maximum duration of the loans shall be 35 years. The Commission shall inform the European Parliament and the Council of developments in the operations referred to in paragraph 3.

Amendment  26

Proposal for a decision

Article 6 – paragraph 1

Text proposed by the Commission	Amendment
1. The Union’s macro-financial assistance shall be implemented in accordance with Regulation (EU, Euratom) No 2018/1046 of the European Parliament and of the Council7.	1. The Union’s macro-financial assistance shall be implemented in accordance with Regulation (EU, Euratom) No 2024/2509 of the European Parliament and of the Council7.
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7 Regulation (EU, Euratom) No 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union and repealing Regulation (EC, Euratom) No 966/2012 (OJ L 193, 30.07.2018, p. 1).	7 Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj).

Amendment  27

Proposal for a decision

Article 8 – paragraph 1 – point b

Text proposed by the Commission	Amendment
(b) assess the economic situation and prospects of Egypt, as well as progress made in implementing the policy measures referred to in Article 3(1);	(b) assess the economic situation and prospects of Egypt, as well as progress made in implementing the policy measures referred to in Article 2 and Article 3(1);

Amendment  28

Proposal for a decision

Article 8 – paragraph 1 – point c

Text proposed by the Commission	Amendment
(c) indicate the connection between the economic policy reform measures laid down in the Memorandum of Understanding, Egypt’s on-going economic and fiscal performance and the Commission’s decisions to release the instalments of the Union's macro-financial assistance.	(c) indicate the connection between Egypt's economic policy reforms under the Memorandum of Understanding, its fiscal performance, and the release of Union macro-financial assistance, while outlining steps taken towards democratic mechanisms, the rule of law and human rights.

 

 

EXPLANATORY STATEMENT

Political dialogue between Egypt and the EU was suspended after the revolution in 2011, and remained frozen through 2015. However, following Sisi’s election as president in May 2014, a rapprochement between Europe and Egypt gradually began to take place. The stability of the country became defining characteristics of European policy towards the Egypt. In 2024 the European Union (‘EU’) and Egypt have agreed to deepen their relationship and develop a strategic and comprehensive partnership for shared prosperity, stability and security, based on joint interest and mutual trust and building on the already existing positive agenda in EU-Egypt relations. The Strategic and Comprehensive Partnership covers specific areas of cooperation outlined in the Joint Declaration, clustered across six pillars of intervention, namely: political relations; economic stability; investment and trade; migration; security and law enforcement cooperation; demography and human capital.

The partnership is based on a financial package consisting of short- and longer-term support for the necessary macro-fiscal and socio-economic reform agenda, as well as increased amounts available to support investments in Egypt and targeted support for the implementation of the different strategic priorities.

Given Egypt’s critical economic and financial situation and Egypt’s role as an important stabilising factor amid geopolitical tensions in an increasingly volatile region, the Commission proposed on 15 March 2024 to support Egypt with macro-financial assistance (‘MFA’) of up to EUR 5 billion in loans as part of the EUR 7.4 billion financial package, divided into a short-term MFA operation of up to EUR 1 billion to be disbursed in one instalment, and a regular MFA operation of up to EUR 4 billion to be disbursed in three instalments.

The short-term MFA was agreed without involvement of the European Parliament for urgency reasons. The rapporteur highlights that this can only be an exception and European Parliament should not be bypassed in the future.

The amount of the proposed two new MFA operations corresponds to 56.7% of the estimated residual financing gap for the period FY24/25-FY26/27. This is consistent with standard practices on burden-sharing for MFA operations (for a country with an Association Agreement, the upper limit would be 60% according to the Council conclusions of 8 October 2002), taking into account the assistance pledged to Egypt by other bilateral and multilateral donors.

The rapporteur would like to point out that the EU’s cooperation with Egypt does not begin with this MFA which is just a piece of the puzzle and in fact consequence of a longstanding cooperation with Egypt on human rights and security highlighted by the Association Agreement/Euro-Mediterranean Agreement (2004), the EU’s new Agenda for the Mediterranean (2021), the Partnership Priorities (2022) and the Joint Declaration launching a new Strategic and Comprehensive partnership (2024). Moreover, Egypt is a strategic, economic, military and geopolitical partner of the EU and the EU is the leading investor in Egypt.

Given the instability in the region, Egypt remains a stable partner that engages in constructive dialogue with its partners. The EU need allies like that in the Middle East, and we need to emphasise their importance.

But Egypt is also hit by a series of external shocks.

A migratory shock first and foremost, with almost 10 million migrants and 800 000 registered refugees. Egypt is also committed to providing access to education for children, access to health services, help in finding housing and help in finding employment, with the support of NGOs. These commitments, if they are to be carried out properly, come at a cost.

A geopolitical shock with the uncertainty of developments in Israel / Palestine and Syria.

An economic shock, because Egypt, like many other countries, is seeing the cost of debt repayment and civil service salaries rise, thus limiting investment capacity.

This MFA is based on strict pre-conditions requiring Egypt to continue to make concrete and credible steps towards democratic mechanism, rule of law and human rights. The rapporteur believes that those pre-conditions embedded in the long-term cooperation with Egypt will lead to reforms and long-term improvements in the country.

Moreover, it is important to underline that Egypt already made big improvements in several areas.

Firstly, on human rights, with a major plan launched in 2021 underlining the country's commitment to this path. Some may feel that things are not moving fast enough, but it is hard to deny that the country is on the right track.

Then there is the question of the place of women in society, which is very often a thermometer of democracy in a country. Wearing the veil is not compulsory. Women have access to public jobs and elected office (27% of women elected to the House, 13% to the Senate). Although Egyptian society is seen as patriarchal, the position of women has changed considerably in recent years.

This is a financial instrument designed to support our partner in the face of the challenges it faces, but also to help it pursue change. The European Parliament will be closely monitoring progress and the rapporteur is asking the Commission to keep the European Parliament duly informed at all stages of the process. After all, the MFA is a loan and the grants are subject to reimbursement.

To conclude the rapporteur would like to highlight that the MFA is an emergency instrument that has to be granted as soon as possible. The rapporteur is convinced that the MFA will be an effective incentive for - political and financial reforms in the country that will ensure a sustainable partnership between the EU and Egypt.

 

 

 

ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she received input from the following entities or persons in the preparation of the report, prior to the adoption thereof in committee:

Entity and/or person

European Commission - DG ECFIN

European Commission - DG NEAR

EEAS

Embassy of Egypt

Members of the Egyptian Parliament

Amnesty International

Human Rights Watch

The list above is drawn up under the exclusive responsibility of the rapporteur.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the concerned natural persons the European Parliament's Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

 

 

MINORITY POSITION

Pursuant to Rule 56(4) of the Rules of Procedure

Vicent Marzà Ibáñez (Greens/EFA)

On behalf of the Greens/EFA group, I would like to express our opposition to the fact that the European Commission has treated Egypt differently from other countries that receive Macro-Financial Assistance (MFA) from the EU.

Following an agreement between the Council and Parliament, all MFAs should, as a pre-condition, respect human rights, democracy, and the rule of law. However, the Commission chose not to adhere to this policy when EC President Ursula von der Leyen announced a package of €7.4 billion in support for Egypt in March 2024, including €5 billion in Macro-Financial Assistance in the form of loans.

We support providing Egypt with macro-financial assistance as a means to improve the living conditions of the Egyptian people, to reduce poverty and inequalities as well as to promote human rights. Our group has previously supported providing macro-financial assistance to alleviate financial burdens for countries in difficulty, while also promoting democratic values and human rights worldwide. However, the Commission must respect the agreements made by Parliament and the Council and act in line with the principles enshrined in the EU Treaties regarding external action.

 

 

BUDGETARY ASSESSMENT OF THE COMMITTEE ON BUDGETS (29.1.2025)

for the Committee on International Trade

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

(COM(2024)0461 – C10‑0009/2024 – 2024/0071(COD))

Rapporteur for budgetary assessment: Matjaž Nemec

 

The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:

– having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union[1] (Financial Regulation),

– having regard to Council Regulation (EU, Euratom) 2020/2093 of 17 December 2020 laying down the multiannual financial framework for the years 2021 to 2027[2],

– having regard to the Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission (IIA) on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources[3],

A. whereas Egypt continues to face sizeable and unmet financing needs, with an external financing gap estimated by the International Monetary Fund (IMF) programme at around USD 17.7 billion for 2024-2027, requiring substantial international support to maintain economic stability and implement crucial reforms;

B. whereas recently, Egypt’s macro-fiscal situation has deteriorated noticeably, with intensified external pressures and increased debt, reflecting both domestic challenges and external shocks, including the repercussions of Russia’s war against Ukraine and regional instability;

C. whereas the destructive and ongoing conflict in Gaza and the attacks in the Red Sea have severely impacted Egypt’s key sources of foreign currency earnings, particularly tourism revenues and Suez Canal proceeds, while persistent capital outflows and lower services exports have further strained the country’s external position; whereas Egypt’s socio-economic situation, including poverty rates and the Human Development Index, are also expected to be negatively impacted[4];

D. whereas the severe deterioration of external accounts and the strategic importance of regional stability conditionally justify this comprehensive support package, while stressing the need for the EU to work towards a lasting long-term peace solution in the Middle East, which will help alleviate the reasons behind Egypt’s financial struggles;

E. whereas Egypt’s public debt burden had increased substantially to 95.9 % of GDP at the end of the 2022/2023 fiscal year, up from 88.5 % the previous fiscal year, reaching its highest level since 2017 and raising concerns about long-term debt sustainability;

F. whereas Egypt’s real GDP growth declined to 2.4 % in the 2023/2024 fiscal year due to inflation and external pressures, with food price inflation remaining a strain, especially on vulnerable households;

G. whereas all major rating agencies have downgraded Egypt’s sovereign credit ratings to below-investment grade following the outbreak of the conflict in Gaza, reflecting increased regional risks and deteriorating humanitarian and economic conditions; whereas this has further complicated the country’s access to international financial markets;

H. whereas the proposed macro-financial assistance (MFA) of up to EUR 4 billion would help Egypt address its external financing needs while supporting the implementation of structural reforms aimed at improving the macroeconomic situation, strengthening economic governance and transparency, and enhancing conditions for sustainable and inclusive growth;

I. whereas on 12 April 2024, the Council adopted Decision (EU) 2024/1144 providing EUR 1 billion in short-term macro-financial assistance to the Arab Republic of Egypt[5], pursuant to the urgency procedure provided under Article 213 of the Treaty on the Functioning of the European Union (TFEU), bypassing Parliament entirely; whereas the Commission adopted a decision on 20 December 2024 to release this single instalment to Egypt;

J. whereas the IMF has confirmed Egypt’s implementation of key reforms that have contributed to preserving macroeconomic stability despite the challenging environment;

K. whereas the short-term macro-financial assistance was subject to conditions set out in the Memorandum of Understanding (MoU) agreed on and signed by the Commission and the Egyptian authorities on 29 June 2024, including the implementation of economic reforms, concrete and credible steps towards respecting democratic principles, and an on-track IMF programme; whereas the Commission and the European External Action Service undertook a review mission to Cairo in October 2024 and subsequently evaluated the Egyptian authorities’ written compliance reporting, with an overall positive assessment of Egypt’s progress in fulfilling these conditions;

L. whereas Parliament, as one arm of the EU’s budgetary authority, was not involved in the negotiation and drafting of the MoU, which sets out the structural reform measures associated with the proposed MFA operation, including aspects of timing and sequencing for the disbursement of the initial assistance of EUR 1 billion;

M. whereas the MoU to be concluded with the Egyptian authorities for the remainder of the MFA is an essential part of the assistance itself; whereas Parliament’s lack of involvement in this process severely hinders its budgetary scrutiny; whereas it is necessary to find an appropriate way to involve Parliament when such memorandums with non-EU countries are negotiated by the Commission;

N. whereas the MoU should crucially provide the Commission with a mechanism to monitor progress as regards the implementation of structural reforms, notably the specific conditions for disbursement of the assistance;

1. Recalls that while MFA is meant to be an exceptional crisis response instrument and should not serve as a substitute for structural development aid, its increasing use to address structural economic challenges in partner countries risks diluting its emergency nature;

2. Highlights the importance of MFA in urgently addressing the situation in Egypt, taking into account Egypt’s critical economic and financial situation and its role as an important stabilising actor in an increasingly volatile region;

3. Regrets the fact that the first proposal of this package bypassed the co-decision rights of Parliament and undermined its democratic oversight role by using Article 213 TFEU instead of Article 212 TFEU; insists that this should not set a precedent and that Parliament’s rights and role should be respected in future proposals; emphasises that MFA is an instrument requiring proper parliamentary and budgetary scrutiny;

4. Notes that the Commission proposal of EUR 4 billion in MFA requires EUR 360 million in provisioning under the External Action Guarantee from the Neighbourhood, Development and International Cooperation Instrument – Global Europe, which represents a significant allocation of limited resources;

5. Recalls its previous concerns about the effectiveness of MFA in driving sustainable reforms; acknowledges, however, that linking this assistance to the broader strategic partnership framework can, when properly implemented, provide stronger leverage for implementing the agreed reform agenda; recalls that the partnership priorities cover three broad areas, namely sustainable modern economy and social development, partnering in foreign policy, and enhancing stability;

6. Takes note of Egypt’s overall compliance with reform implementation under the previous MFA; reiterates its calls for transparent and timely reporting of assistance implementation; calls for adequate monitoring mechanisms with clear benchmarks and outcomes to be established in the MoU, and for regular reporting to the budgetary authority on developments related to the assistance, given the unprecedented size of this MFA package;

7. Notes that while the MFA loan structure spreads repayments over a longer period, this creates extended contingent liabilities for the EU budget that require careful monitoring over multiple financial frameworks;

8. Emphasises that the MFA constitutes a general budgetary support instrument for the benefit of Egypt and that the EU has no control over how the funds are actually spent; nevertheless encourages the Egyptian authorities and counterparties to disclose information on spending at the Commission’s request;

9. Recalls that Article 6 of the Financial Regulation establishes the obligation for the Commission to ensure compliance with the Charter of Fundamental Rights of the EU and to respect the values enshrined in Article 2 of the Treaty on European Union when implementing the EU budget; stresses that such a budgetary principle constitutes a core legal requirement for any form of EU financial assistance; underscores, therefore, the fact that the proposal lacks sufficient safeguards and clear benchmarks to measure progress towards compliance, particularly regarding respect for human dignity, freedom, democracy, equality, the rule of law and human rights, including the rights of persons belonging to minorities and freedom of belief, in order to protect the EU’s financial interests and ensure the MFA’s implementation in accordance with the Regulation;

10. Recalls that a pre-condition for granting MFA involves respecting effective democratic mechanisms, including a multiparty parliamentary system and the rule of law, and guaranteeing respect for human rights; highlights that, in this case, Egypt should continue to make concrete and credible steps towards respecting these criteria; emphasises the need to ensure their robust implementation;

11. Emphasises that strict adherence to democratic principles, the rule of law and fundamental freedoms should remain non-negotiable prerequisites for accessing EU financial support; calls on the Commission to withhold disbursements in the absence of credible progress on these fronts; notes that the Commission’s decision to disburse the short-term macro-financial assistance reflects Egypt’s progress in implementing reforms and the EU’s commitment to supporting Egypt’s economic stabilisation and reform agenda under the strategic and comprehensive partnership, while noting that human rights challenges in Egypt remain significant; stresses, in this respect, the importance of Egypt’s stability and its crucial role in the region, particularly in the current geopolitical context;

12. Regrets Parliament’s lack of involvement in and scrutiny of the MoU concluded between the Commission and the Egyptian authorities, which, among other things, includes important budgetary provisions that fall within the remit of Parliament, will determine clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, and will include a time frame for achieving those reforms, which are linked to loan disbursement;

13. Concludes that the proposal for a decision of the European Parliament and of the Council on providing macro-financial assistance to the Arab Republic of Egypt is compatible with the elements referred to in Rule 58(3) of the Rules of Procedure.

 

As part of its budgetary assessment, the Committee on Budgets also submits the following amendments to the proposal:

 

Amendment  1

Proposal for a decision

Recital 1 a (new)

Text proposed by the Commission	Amendment
	(1a) This Decision has implications for the Union budget. Accordingly, the European Parliament’s Committee on Budgets adopted a budgetary assessment, which forms an integral part of Parliament’s mandate for negotiations.

 

Amendment  38

Proposal for a decision

Article 5 – paragraph 1

Text proposed by the Commission	Amendment
(1) In order to finance the support under the macro-financial assistance in the form of loans, the Commission shall be empowered, on behalf of the Union, to borrow the necessary funds on the capital markets or from financial institutions in accordance with Article 220a of Regulation (EU, Euratom) 2018/1046.	(1) In order to finance the support under the macro-financial assistance in the form of loans, the Commission shall be empowered, on behalf of the Union, to borrow the necessary funds on the capital markets or from financial institutions in accordance with Article 223 of Regulation (EU, Euratom) 2024/2509.

 

Amendment  39

Proposal for a decision

Article 5 – paragraph 2

Text proposed by the Commission	Amendment
(2) The Commission shall enter into a loan agreement with Egypt in respect of the amount referred to in Article 1. The detailed terms of the support under the MFA in the form of loans shall be laid down in a loan agreement in accordance with Article 220 of the Financial Regulation, to be concluded between the Commission and the Egyptian authorities. The loan agreement shall lay down the availability period and the detailed terms of the support under the macro-financial assistance in the form of loans, including in relation to the internal control systems. The loans shall be granted at terms that allow Egypt to repay the loan over a long period, including a possible grace period. The maximum duration of the loans shall be 35 years. The Commission shall inform the European Parliament and the Council of developments in the operations referred to in paragraph 3.	(2) The Commission shall enter into a loan agreement with Egypt in respect of the amount referred to in Article 1. The detailed terms of the support under the MFA in the form of loans shall be laid down in a loan agreement in accordance with Article 223 of the Financial Regulation, to be concluded between the Commission and the Egyptian authorities. The loan agreement shall lay down the availability period and the detailed terms of the support under the macro-financial assistance in the form of loans, including in relation to the internal control systems. The loans shall be granted at terms that allow Egypt to repay the loan over a long period, including a possible grace period. The maximum duration of the loans shall be 35 years. The Commission shall inform the European Parliament and the Council of developments in the operations referred to in paragraph 3.

 

Amendment  40

Proposal for a decision

Article 6 – paragraph 1

Text proposed by the Commission	Amendment
(1) The Union’s macro-financial assistance shall be implemented in accordance with Regulation (EU, Euratom) No 2018/1046 of the European Parliament and of the Council7.	(1) The Union’s macro-financial assistance shall be implemented in accordance with Regulation (EU, Euratom) No 2024/2509 of the European Parliament and of the Council7.
_________________	_________________
7 Regulation (EU, Euratom) No 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union and repealing Regulation (EC, Euratom) No 966/2012 (OJ L 193, 30.07.2018, p. 1).	7 Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast) (OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj).

Amendment  41

Proposal for a decision

Article 8 – paragraph 1 – point b

Text proposed by the Commission	Amendment
(b) assess the economic situation and prospects of Egypt, as well as progress made in implementing the policy measures referred to in Article 3(1);	(b) assess the economic situation and prospects of Egypt, as well as progress made in implementing the policy measures referred to in Articles 2 and 3(1);

 

ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR FOR BUDGETARY ASSESSMENT HAS RECEIVED INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur for budgetary assessment declares that he received input from the following entities or persons in the preparation of the budgetary assessment, prior to the adoption thereof in committee:

Entity and/or person

European Commission Ambassador of Egypt to the EU Head of delegation of the European Union to Egypt The Minister of Foreign Affairs of the Arab Republic of Egypt

The list is drawn up under the exclusive responsibility of the rapporteur for budgetary assessment.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur for budgetary assessment declares that he has submitted to the natural persons concerned the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

 

PROCEDURE – COMMITTEE ASKED FOR BUDGETARY ASSESSMENT

Title	Macro-financial assistance to the Arab Republic of Egypt
References	COM(2024)0461 – C10-0009/2024 – 2024/0071(COD)
Committee(s) responsible	INTA
Date announced in plenary	BUDG 13.11.2024
Rapporteur for budgetary assessment  Date appointed	Matjaž Nemec 24.10.2024
Discussed in committee	16.1.2025
Date adopted	29.1.2025
Result of final vote	+: –: 0:	32 5 1
Members present for the final vote	Georgios Aftias, Rasmus Andresen, Isabel Benjumea Benjumea, Tobiasz Bocheński, Olivier Chastel, Tamás Deutsch, Angéline Furet, Jens Geier, Thomas Geisel, Jean-Marc Germain, Sandra Gómez López, Monika Hohlmeier, Alexander Jungbluth, Janusz Lewandowski, Giuseppe Lupo, Siegfried Mureşan, Matjaž Nemec, Danuše Nerudová, João Oliveira, Ruggero Razza, Karlo Ressler, Julien Sanchez, Hélder Sousa Silva, Joachim Streit, Carla Tavares, Nils Ušakovs, Lucia Yar, Auke Zijlstra
Substitutes present for the final vote	Damian Boeselager, Michalis Hadjipantela, Moritz Körner, Tiago Moreira de Sá, Rasmus Nordqvist, Michele Picaro, Jacek Protas, Beata Szydło
Members under Rule 216(7) present for the final vote	Thierry Mariani, Aodhán Ó Ríordáin

 

 

FINAL VOTE BY ROLL CALL
IN COMMITTEE ASKED FOR BUDGETARY ASSESSMENT

32	+
ECR	Tobiasz Bocheński, Michele Picaro, Ruggero Razza, Beata Szydło
NI	Thomas Geisel
PPE	Georgios Aftias, Isabel Benjumea Benjumea, Michalis Hadjipantela, Monika Hohlmeier, Janusz Lewandowski, Siegfried Mureşan, Danuše Nerudová, Jacek Protas, Karlo Ressler, Hélder Sousa Silva
PfE	Tamás Deutsch, Angéline Furet, Thierry Mariani, Tiago Moreira de Sá, Julien Sanchez
Renew	Olivier Chastel, Moritz Körner, Joachim Streit, Lucia Yar
S&D	Jens Geier, Jean-Marc Germain, Sandra Gómez López, Giuseppe Lupo, Matjaž Nemec, Aodhán Ó Ríordáin, Carla Tavares, Nils Ušakovs

 

5	-
PfE	Auke Zijlstra
The Left	João Oliveira
Verts/ALE	Rasmus Andresen, Damian Boeselager, Rasmus Nordqvist

 

1	0
ESN	Alexander Jungbluth

 

Key to symbols:

+ : in favour

- : against

0 : abstention

 

 

 

 

OPINION OF THE COMMITTEE ON FOREIGN AFFAIRS (30.1.2025)

for the Committee on International Trade

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

(COM(2024)0461 – C10‑0009/2024 – 2024/0071(COD))

Rapporteur for opinion: Tineke Strik

 

SHORT JUSTIFICATION

As enshrined in the Treaties, the EU is required to uphold and promote the principles of human rights, democracy and the rule of law in its external action. While acknowledging the importance of the EU-Egypt strategic partnership and the need for MFA-support to Egypt in light of the economic impact of, among others, the current geopolitical situation, this opinion aims to integrate human rights, democracy and the rule of law as core parts of the MFA and to strengthen provisions related to parliamentary scrutiny and transparency. The Rapporteur is pleased that the Foreign Affairs Committee (AFET) confirmed that these founding principles of the EU should form the basis of EU-Egypt relations, and concrete improvement from Egypt in this regard is a precondition for the disbursement of the MFA. Moreover, the vote confirmed that the AFET Committee is convinced that Commission services and the European External Action Service have the responsibility to integrate this approach into the Memorandum of Understanding to be negotiated with Egypt, and report on progress on the specific conditions to the European Parliament and Council. Payment of each instalment should be subject to concrete improvements on human rights, democracy and the rule of law. The Rapporteur has full trust that the competences of the AFET Committee will be integrated into the report of the Committee on International Trade, and will engage with the respective Rapporteur to that end.

AMENDMENTS

The Committee on Foreign Affairs submits the following to the Committee on International Trade, as the committee responsible:

Amendment  1

 

Proposal for a decision

Recital 3

Text proposed by the Commission	Amendment
(3) In line with the Partnership Priorities, the EU and Egypt are committed to ensuring accountability, the rule of law, the full respect of human rights, fundamental freedoms, promoting democracy, gender equality and equal opportunities as constitutional rights of all their citizens. These commitments contribute to the advancement of the partnership and to Egypt’s sustainable development and stability. The increased and constructive engagement between the EU and Egypt in the last period has opened the path to more meaningful dialogue on human rights related issues. The subcommittee on Political Matters, Human Rights and Democracy, International and Regional issues of December 2022 and the Association Committee of May 2023 provided the institutional platforms to exchange on an array of human rights issues, which the EU would like to continue and build on. The improvement of the human rights situation in Egypt will have a positive impact on EU-Egypt relations.	(3) In line with the Partnership Priorities, the EU and Egypt are committed to ensuring accountability, the rule of law, the full respect of human rights, fundamental freedoms, promoting democracy, gender equality and equal opportunities as constitutional rights of all their citizens. These commitments contribute to the advancement of the partnership and to Egypt’s sustainable social and economic development and stability. The increased and constructive engagement between the EU and Egypt in the last period has opened the path to more meaningful dialogue on human rights related issues. The subcommittee on Political Matters, Human Rights and Democracy, International and Regional issues of December 2022 and the Association Committee of May 2023 provided the institutional platforms to exchange on an array of human rights issues, which the EU would like to continue and build on. A future improvement of the human rights situation in Egypt, such as improving the rights to freedom of expression, association and peaceful assembly, introducing a moratorium on death penalty, combating torture and enforced disappearances, and improving the conditions of prisons, will have a positive impact on EU-Egypt relations.

Amendment  2

 

Proposal for a decision

Recital 5

Text proposed by the Commission	Amendment
(5) The EU recognises Egypt's key role for regional security and stability. Terrorism, organised crime and conflicts are common threats against our security and the social fabric of nations across both sides of the Mediterranean. Therefore, the EU and Egypt have a common interest in strengthening cooperation highlighted in the Partnership Priorities, in full compliance with international law, including human rights and international humanitarian law.	(5) The EU recognises Egypt's key role for regional security and stability, and has a strong interest in preventing short-term economic instability in that country that could have broader consequences as well as benefit geopolitical rivals. Terrorism, organised crime, disinformation, conflicts and persecution of religious and ethnic minorities are common threats against our security and the social fabric of nations across both sides of the Mediterranean. Therefore, the EU and Egypt have a common interest in strengthening cooperation highlighted in the Partnership Priorities, in full compliance with international law, including human rights and international humanitarian law, as well as in promoting joint interests and addressing common challenges.

Amendment  3

 

Proposal for a decision

Recital 6

Text proposed by the Commission	Amendment
(6) Recalling the geo-political challenges, such as the consequences of Hamas terrorist attacks across Israel on 7 October 2023 as well as the conflict in Sudan, and the strategic importance of Egypt as the largest country in the region and a pillar of stability for the whole Middle East, the Union is embarking on concluding a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.	(6) Recalling the geo-political challenges, such as the broader consequences of the situation in the Middle East following the Hamas terrorist attacks of 7 October 2023, as well as the armed conflict in Sudan and instability in Syria, and the strategic importance of Egypt as the largest country in the region and a pillar of stability and security for the whole Middle East, the Union is embarking on concluding a Strategic and Comprehensive partnership with Egypt as outlined in the Joint Declaration.

Amendment  4

 

Proposal for a decision

Recital 9

Text proposed by the Commission	Amendment
(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and of Hamas terrorist attacks against Israel have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism and Suez Canal proceeds. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios.	(9) Egypt’s macro-fiscal situation has faced significant challenges and deteriorated substantially over recent months, as external pressures have intensified and public debt has increased further, with substantial downside risks to the economic outlook persisting. The repercussions of Russia’s war on Ukraine and of the situation in the Middle East have led to protracted capital outflows and lower foreign currency receipts, notably due to sharply falling income from tourism and Suez Canal proceeds. This is particularly challenging amid Egypt’s difficult fiscal situation, which is characterised by constant fiscal deficits and high and growing debt to GDP ratios. Moreover, instability and uncertainty in Syria would further exacerbate the already existing macro-financial issues for Egypt.

Amendment  5

 

Proposal for a decision

Recital 19

Text proposed by the Commission	Amendment
(19) The Commission should ensure that the Union's macro-financial assistance is legally and substantially in line with the key principles, objectives and measures taken within the different areas of external action and with other relevant Union policies.	(19) As enshrined in Article 212 TFEU, the Commission should ensure that the Union's macro-financial assistance is legally and substantially in line with the key principles, objectives and measures taken within the different areas of external action, and in particular with Article 2 of the EU-Egypt Association Agreement of 2004 concerning the respect of democratic principles and fundamental human rights and with other relevant Union policies.

Amendment  6

 

Proposal for a decision

Recital 22

Text proposed by the Commission	Amendment
(22) A pre-condition for granting the Union's macro-financial assistance to Egypt should be that the country continues to make concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Egypt and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. The fulfillment of the pre-condition and the achievement of the specific objectives should be regularly monitored by the Commission services and the European External Action Service.	(22) A pre-condition for granting the Union's macro-financial assistance to Egypt should be that the country takes concrete and credible steps towards respecting and enhancing effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights, In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector in Egypt and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. The fulfillment of the pre-condition and the achievement of the specific objectives should be regularly monitored by the Commission services and the European External Action Service.

Amendment  7

 

Proposal for a decision

Recital 26

Text proposed by the Commission	Amendment
(26) The Union's macro-financial assistance should be managed by the Commission. In order to ensure that the European Parliament and the Council are able to follow the implementation of this Decision, the Commission should regularly inform them of developments relating to the assistance and provide them with relevant documents.	(26) The Union's macro-financial assistance should be managed by the Commission. In order to ensure that the European Parliament and the Council are able to follow the implementation of this Decision, the Commission should regularly inform them with an annual report of developments relating to the assistance and on the respect of effective democratic mechanisms, as per the pre-conditions referred to in this Decision and, provide them with relevant documents.

Amendment  8

 

Proposal for a decision

Recital 28

Text proposed by the Commission	Amendment
(28) The Union's macro-financial assistance should be subject to economic policy conditions, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Egyptian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Egypt, the examination procedure should apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance.	(28) The Union's macro-financial assistance should be subject to economic policy and democracy, rule of law and human rights conditions, to be laid down in a Memorandum of Understanding. In order to ensure uniform conditions of implementation and for reasons of efficiency, the Commission should be empowered to negotiate such conditions with the Egyptian authorities under the supervision of the committee of representatives of the Member States in accordance with Regulation (EU) No 182/2011. Under that Regulation, the advisory procedure should, as a general rule, apply in all cases other than as provided for in that Regulation. Considering the potentially important impact of assistance of more than EUR 90 million, it is appropriate that the examination procedure be used for operations above that threshold. Considering the amount of the Union's macro-financial assistance to Egypt, the examination procedure should apply to the adoption of the Memorandum of Understanding, and to any reduction, suspension or cancellation of the assistance.

Amendment  9

 

Proposal for a decision

Article 1 – paragraph 3 – subparagraph 1

Text proposed by the Commission	Amendment
The release of the Union's macro-financial assistance shall be managed by the Commission in a manner consistent with the agreements or understandings reached between the IMF and Egypt, and with the key principles and objectives of economic reforms set out in the EU-Egypt Association Agreement.	The release of the Union's macro-financial assistance shall be managed by the Commission in a manner consistent with the agreements or understandings reached between the IMF and Egypt, and with the key principles and objectives set out in the EU-Egypt Association Agreement.

Amendment  10

 

Proposal for a decision

Article 1 – paragraph 3 – subparagraph 2

Text proposed by the Commission	Amendment
The Commission shall regularly inform the European Parliament and the Council of developments regarding the Union's macro-financial assistance, including disbursements thereof, and shall provide those institutions with the relevant documents in due time.	The Commission shall regularly inform the European Parliament and the Council of developments regarding the Union's macro-financial assistance, including disbursements thereof, as well as on the progress made relating to economic and democratic reforms in Egypt, and shall provide those institutions with the relevant documents, including third-party independent assessments, in due time.

Amendment  11

 

Proposal for a decision

Article 1 – paragraph 3 – subparagraph 2 a (new)

Text proposed by the Commission	Amendment
	The transparent management of funds allocated under this macro-financial assistance is essential in order to ensure that resources are used wisely, in accordance with the set objectives. The Union shall ensure that effective and independent control and audit mechanisms are put in place to prevent any misappropriation.

Amendment  12

 

Proposal for a decision

Article 2 – paragraph 1

Text proposed by the Commission	Amendment
1. A pre-condition for granting the Union's macro-financial assistance shall be that Egypt continues to make concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights.	1. A pre-condition for granting the Union's macro-financial assistance shall be that Egypt takes concrete and credible steps towards respecting effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and made a quantitative and substantial improvement in the respect for human rights, since the signing in June 2024 of the Memorandum of Understanding linked to the EUR 1 billion macro-financial assistance package, and that it continues to make concrete and credible improvements in those areas throughout the period covered by this Decision.

Amendment  13

 

Proposal for a decision

Article 2 – paragraph 2

Text proposed by the Commission	Amendment
2. The Commission services and the European External Action Service shall monitor the fulfilment of this pre-condition throughout the life-cycle of the Union's macro-financial assistance.	2. The Commission services and the European External Action Service shall monitor the fulfilment of this pre-condition throughout the life-cycle of the Union's macro-financial assistance in a transparent process in which civil society and international entities such as UN organisations are able to contribute, and report, regularly and in writing, to the European Parliament on the conditions referred to in Article 2 (1).

Amendment  14

 

Proposal for a decision

Article 3 – paragraph 1

Text proposed by the Commission	Amendment
1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Egyptian authorities on clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, to which the Union's macro-financial assistance is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the achievement of those reforms. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Egypt with the support of the IMF.	1. The Commission, in accordance with the examination procedure referred to in Article 7(2), shall agree with the Egyptian authorities on clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, as well as on democracy, rule of law and human rights conditions, to which the Union's macro-financial assistance and the release of each separate instalment is to be subject, to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the achievement of those reforms. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by Egypt with the support of the IMF.

Amendment  15

 

Proposal for a decision

Article 3 – paragraph 2

Text proposed by the Commission	Amendment
2. The conditions referred to in paragraph 1 shall aim, in particular, at enhancing the efficiency, transparency and accountability of the public finance management systems in Egypt, including for the use of the Union's macro-financial assistance. Progress in mutual market opening, the development of rules-based and fair trade, and other priorities in the context of the Union's external policy shall also be duly taken into account when designing the policy measures. Progress in attaining those objectives shall be regularly monitored by the Commission.	2. The conditions referred to in paragraph 1 shall aim, in particular, at introducing reforms towards respecting effective democratic mechanisms - including a multi-party parliamentary system - and the rule of law, and ensuring respect for human rights, enhancing the efficiency, transparency and accountability of the public finance management systems in Egypt, including for the use of the Union's macro-financial assistance. Progress in mutual market opening, poverty reduction, good governance, the fight against corruption, the development of rules-based and fair trade, and other priorities in the context of the Union's external policy, including those relating to democracy, rule of law and human rights, shall also be duly taken into account when designing the policy measures. Progress in attaining those objectives shall be regularly monitored by the Commission.

Amendment  16

 

Proposal for a decision

Article 4 – paragraph 3 – subparagraph 1 – point c

Text proposed by the Commission	Amendment
(c) the satisfactory implementation of the economic policy conditions and financial conditions agreed in the Memorandum of Understanding.	(c) the satisfactory implementation of the economic policy conditions, financial conditions, and democracy, rule of law and human rights conditions, agreed in the Memorandum of Understanding.

Amendment  17

 

Proposal for a decision

Article 8 – paragraph 1 – point c a (new)

Text proposed by the Commission	Amendment
	(ca) outline the concrete and credible steps Egypt has taken towards respecting effective democratic mechanisms, including a multi-party parliamentary system, and the rule of law, and towards ensuring respect for human rights.

ANNEX: ENTITIES OR PERSONS
FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur for the opinion received input from the following entities or persons in the preparation of the opinion:

Entity and/or person

European Commission - DG ECFIN

EEAS

Various Egyptian authorities on multiple occassion

Amnesty International

Euromed Rights

CIHRS

Egyptian Front for Human Rights

Committee to Protect Journalists

Various Members of the Egyptian Parliament

UNHCR

Save the Children

Frontex

Various diplomats of EU Member States in Caïro

Various local civil society organisations in Egypt

Third country diplomat in Egypt

The list above is drawn up under the exclusive responsibility of the rapporteur for the opinion.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur for the opinion declares that she has submitted to the concerned natural persons the European Parliament's Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

PROCEDURE – COMMITTEE ASKED FOR OPINION

Title	Macro-financial assistance to the Arab Republic of Egypt
References	COM(2024)0461 – C10-0009/2024 – 2024/0071(COD)
Committee(s) responsible	INTA
Opinion by  Date announced in plenary	AFET 13.11.2024
Rapporteur for the opinion  Date appointed	Tineke Strik 14.10.2024
Discussed in committee	3.12.2024
Date adopted	30.1.2025
Result of final vote	+: –: 0:	59 6 7
Members present for the final vote	Mika Aaltola, Lucia Annunziata, Petras Auštrevičius, Jordan Bardella, Dan Barna, Wouter Beke, Robert Biedroń, Ioan-Rareş Bogdan, Marc Botenga, Grzegorz Braun, Sebastião Bugalho, Danilo Della Valle, Özlem Demirel, Elio Di Rupo, Michael Gahler, Geadis Geadi, Giorgos Georgiou, Raphaël Glucksmann, Bernard Guetta, Rima Hassan, Rasa Juknevičienė, Sandra Kalniete, Łukasz Kohut, Rihards Kols, Andrey Kovatchev, Vilis Krištopans, Nathalie Loiseau, Claudiu Manda, David McAllister, Sven Mikser, Francisco José Millán Mon, Arkadiusz Mularczyk, Leoluca Orlando, Kostas Papadakis, Tonino Picula, Thijs Reuten, Nacho Sánchez Amor, Andreas Schieder, Alexander Sell, Villy Søvndal, Davor Ivo Stier, Sebastiaan Stöteler, Stanislav Stoyanov, Marie-Agnes Strack-Zimmermann, Michał Szczerba, António Tânger Corrêa, Marta Temido, Cristian Terheş, Riho Terras, Hermann Tertsch, Pierre-Romain Thionnet, Sebastian Tynkkynen, Reinier Van Lanschot, Roberto Vannacci, Hilde Vautmans, Harald Vilimsky, Željana Zovko
Substitutes present for the final vote	Jaume Asens Llodrà, Malik Azmani, Engin Eroglu, Sandra Gómez López, Evin Incir, András László, Ana Catarina Mendes, Hans Neuhoff, Nicolás Pascual de la Parte, Chloé Ridel, Tineke Strik, Şerban Dimitrie Sturdza, Ingeborg Ter Laak, Matej Tonin, Ivaylo Valchev, Isabel Wiseler-Lima
Members under Rule 216(7) present for the final vote	Catarina Vieira

 

 

FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION

59	+
ECR	Geadis Geadi, Rihards Kols, Arkadiusz Mularczyk, Şerban Dimitrie Sturdza, Cristian Terheş, Ivaylo Valchev
PPE	Mika Aaltola, Wouter Beke, Ioan-Rareş Bogdan, Sebastião Bugalho, Michael Gahler, Rasa Juknevičienė, Sandra Kalniete, Łukasz Kohut, Andrey Kovatchev, David McAllister, Francisco José Millán Mon, Nicolás Pascual de la Parte, Davor Ivo Stier, Michał Szczerba, Ingeborg Ter Laak, Riho Terras, Matej Tonin, Isabel Wiseler-Lima, Željana Zovko
PfE	András László, António Tânger Corrêa, Hermann Tertsch, Roberto Vannacci
Renew	Petras Auštrevičius, Malik Azmani, Dan Barna, Engin Eroglu, Bernard Guetta, Nathalie Loiseau, Marie-Agnes Strack-Zimmermann, Hilde Vautmans
S&D	Lucia Annunziata, Robert Biedroń, Elio Di Rupo, Raphaël Glucksmann, Sandra Gómez López, Evin Incir, Claudiu Manda, Ana Catarina Mendes, Sven Mikser, Tonino Picula, Thijs Reuten, Nacho Sánchez Amor, Andreas Schieder, Marta Temido
The Left	Özlem Demirel, Rima Hassan
Verts/ALE	Jaume Asens Llodrà, Leoluca Orlando, Villy Søvndal, Tineke Strik, Reinier Van Lanschot, Catarina Vieira

 

6	-
NI	Grzegorz Braun, Kostas Papadakis
PfE	Jordan Bardella, Sebastiaan Stöteler, Pierre-Romain Thionnet, Harald Vilimsky

 

7	0
ECR	Sebastian Tynkkynen
ESN	Hans Neuhoff, Alexander Sell, Stanislav Stoyanov
The Left	Marc Botenga, Danilo Della Valle, Giorgos Georgiou

 

Key to symbols:

+ : in favour

- : against

0 : abstention

 

 

 

 

 

PROCEDURE – COMMITTEE RESPONSIBLE

Title	Macro-financial assistance to the Arab Republic of Egypt
References	COM(2024)0461 – C10-0009/2024 – 2024/0071(COD)
Date submitted to Parliament	15.3.2024
Committee(s) responsible	INTA
Committees asked for opinions  Date announced in plenary	AFET 13.11.2024
Rapporteurs  Date appointed	Céline Imart 30.9.2024
Discussed in committee	14.10.2024	30.1.2025
Date adopted	20.3.2025
	BUDG 29.1.2025
Result of final vote	+: –: 0:	28 7 5
Members present for the final vote	Christophe Bay, Brando Benifei, Anna Bryłka, Udo Bullmann, Benoit Cassart, Markéta Gregorová, Bart Groothuis, Céline Imart, Karin Karlsbro, Bernd Lange, Ilia Lazarov, Thierry Mariani, Javier Moreno Sánchez, Ştefan Muşoiu, Daniele Polato, Majdouline Sbai, Lukas Sieper, Dominik Tarczyński, Francesco Torselli, Kathleen Van Brempt, Jörgen Warborn, Iuliu Winkler, Bogdan Andrzej Zdrojewski, Juan Ignacio Zoido Álvarez
Substitutes present for the final vote	Mika Aaltola, Nicolas Bay, Markus Buchheit, João Cotrim De Figueiredo, Danilo Della Valle, Borja Giménez Larraz, Vicent Marzà Ibáñez, Marina Mesure, Martin Schirdewan, Kris Van Dijck
Members under Rule 216(7) present for the final vote	Hildegard Bentele, Mélanie Disdier, Niels Geuking, Chloé Ridel, Romana Tomc, Matthieu Valet
Date tabled	24.3.2025

 

FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

28	+
ECR	Nicolas Bay, Daniele Polato, Dominik Tarczyński, Francesco Torselli, Kris Van Dijck
ESN	Markus Buchheit
NI	Lukas Sieper
PPE	Mika Aaltola, Hildegard Bentele, Niels Geuking, Borja Giménez Larraz, Céline Imart, Ilia Lazarov, Romana Tomc, Jörgen Warborn, Iuliu Winkler, Bogdan Andrzej Zdrojewski, Juan Ignacio Zoido Álvarez
PfE	Christophe Bay, Anna Bryłka, Mélanie Disdier, Thierry Mariani, Matthieu Valet
Renew	Benoit Cassart, João Cotrim De Figueiredo, Bart Groothuis, Karin Karlsbro
S&D	Javier Moreno Sánchez

 

7	-
S&D	Udo Bullmann
The Left	Danilo Della Valle, Marina Mesure, Martin Schirdewan
Verts/ALE	Markéta Gregorová, Vicent Marzà Ibáñez, Majdouline Sbai

 

5	0
S&D	Brando Benifei, Bernd Lange, Ştefan Muşoiu, Chloé Ridel, Kathleen Van Brempt

 

Key to symbols:

+ : in favour

- : against

0 : abstention

 

 

• [1] OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj. 
• [2] OJ L 433 I, 22.12.2020, p. 11, ELI: http://data.europa.eu/eli/reg/2020/2093/oj.
• [3] OJ L 433 I, 22.12.2020, p. 28, ELI: http://data.europa.eu/eli/agree_interinstit/2020/1222/oj.
• [4] UN Development Programme, ‘Potential Socioeconomic Impacts of the Gaza War on Egypt: A rapid assessment’, p. 54-60, May 2024.
• [5] Council Decision (EU) 2024/1144 of 12 April 2024 providing short-term macro-financial assistance to the Arab Republic of Egypt, OJ L, 2024/1144, 15.4.2024, ELI: http://data.europa.eu/eli/dec/2024/1144/oj.