Brussels: Members of the European Parliament have approved two proposals to provide Egypt and Jordan with loans worth €4 billion and €500 million, respectively.
The Parliament adopted the macro-financial assistance to Egypt with 452 votes in favor, 182 against and 40 abstentions. The proposal for Jordan was passed with 571 votes in favor, 59 against and 46 abstentions.
The European Commission proposed support for Egypt on March 15, 2024, in the form of macro-financial assistance through loans amounting to up to €5 billion. This included a short-term loan of up to €1 billion, which was already disbursed at the end of 2024, and a regular loan of up to €4 billion to be disbursed in three instalments. The Parliament approved this proposal.
As for Jordan, the loan is intended to help cover financing needs, support structural reforms and contribute to fiscal consolidation efforts, support its structural reforms, and shore up its fiscal consolidation efforts. In January 2025, the Commission announced an additional financial package to help Jordan deal with existing financial and other challenges.
A pre-condition for the EU granting financial assistance shall be that Jordan respects effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees for respect of human rights.
EU Rapporteur Celine Imart (France), said: “This vote underlines Parliament’s support for our partners. The money for Jordan can be delivered quickly, and Parliament will enter into negotiations with member states on the proposal for Egypt with a strong mandate to make a swift agreement. Helping our partners means promoting European interests in an unstable region.”
Next steps
The MFA package for Jordan now needs to be formally approved by the Council before it can take effect. On financial aid for Egypt, negotiations between Council and Parliament are expected to start soon.
