Macro-financial assistance to Egypt under Article 213 TFEU

Priority question for written answer P-001033/2024
to the Commission
Rule 138
Erik Marquardt (Verts/ALE), Tineke Strik (Verts/ALE), Mounir Satouri (Verts/ALE), Rasmus Andresen (Verts/ALE)

On 15 March 2024, Commission President von der Leyen addressed a letter to Parliament President Metsola regarding the intention of the Commission to disburse EUR 1 billion of macro-financial assistance to Egypt using the emergency procedure in Article 213 TFEU, which allows the adoption of funding decisions without Parliament's consent 'when the situation in a third country requires urgent financial assistance from the Union'. Ms von der Leyen justifies the emergency procedure by referring to the economic and geopolitical situation in Egypt.

• 1.Taking into consideration the recent Ras al-Hekma deal[1]with the UAE (USD 35 billion), the loan agreement with the IMF[2]expanding support by USD 5 billion, as well as World Bank's decision to provide a USD 6 billion loan[3], how does the Commission justify the urgency and relevance of the EUR 1 billion payment to Egypt?
• 2.The letter attributes Egypt's economic problems to 'external shocks' such as the conflicts in Ukraine, Gaza and Sudan. Can the Commission provide data demonstrating that those conflicts are a significant cause of Egypt's economic and financial crisis?
• 3.Given that respect for human rights and effective democratic mechanisms are pre-conditions for the granting of macro-financial assistance, and considering that the UN has repeatedly expressed its concerns about human rights violations in Egypt, what is the justification for such unconditional funding?

Submitted:8.4.2024

• [1] https://www.newarab.com/news/ras-al-hekma-egypt-secures-5-billion-uae-downpayment.
• [2] https://www.imf.org/en/News/Articles/2024/03/06/pr-2459-egypt-staff-and-authorities-reach-agreement-on-reviews-under-the-eff-arrangement.
• [3] https://www.bloomberg.com/news/articles/2024-03-18/world-bank-to-provide-egypt-with-over-6-billion-in-support.