The House of Representatives approves a European Union loan facility agreement to support macroeconomic support worth 4 billion euros
The House of Representatives approved in the plenary session today, Sunday, headed by Counselor Ahmed Saad El-Din, First Undersecretary of the House, the memorandum of understanding and agreement on the mechanism of macroeconomic support and budget support between the government of the Arab Republic of Egypt and the European Union, issued by the President of the Arab Republic of Egypt Resolution No. 554 of 2025.
The Council’s approval came after Representative Dr. Fakhri Al-Feki reviewed the report of the joint committee from the Planning and Budget Committee and the offices of the Affairs Committees. Economic, foreign relations, housing, public facilities and reconstruction, energy and environment, regarding the aforementioned agreement.
The committee’s report indicated that the proposed agreement includes the second phase of the mechanism for macroeconomic support and budget support for the Arab Republic of Egypt from the European Union with a value of 4 billion euros. Following up on the implementation of the electronic tax system, in addition to developing public finance management by improving accounting mechanisms, medium-term budget management, improving public debt management, and enhancing financial transparency. Lands.
Measures also include improving customs procedures, activating electronic platforms to facilitate investment, enhancing competitiveness policies to attract more foreign direct investment, encouraging private sector participation through public-private partnerships, in addition to reforms in the energy sector towards market liberalization and improving energy efficiency, and a study of enhancing climate-compatible trade competitiveness with special environmental protection for the Red Sea region.
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