8 billion dollars financial aid from the European Union to Egypt due to the damage of the Gaza war

The war in Gaza has left destructive effects on this region and even neighboring countries. Egypt, which is directly connected to Gaza by the Rafah crossing, has suffered the most from the consequences of this war.

According to Financial Times, concerns about Egypt’s economic collapse due to the Gaza war caused the European Union to allocate 7.4 billion euros (equivalent to 8 billion dollars) in the form of a financial aid package to Cairo.

Ursula Van der Leyen, the head of the European Commission, is going to visit Cairo next Sunday and officially unveil this package of financial aid to Egypt. The prime ministers of Greece, Italy, and Belgium are also supposed to attend this trip.

Egypt’s economy, which was under pressure before the Gaza war on October 7th, has suffered the most damage due to the war of the Zionist regime. The spread of conflicts to the Red Sea and the reduction of traffic through the Suez Canal due to the attacks of the Yemeni Ansarullah movement against Zionist ships have reduced Egypt’s income from this canal.

Egypt’s tourism industry has also been damaged due to the Gaza war, which is one of Cairo’s income areas.