Recitals
- Recital (1)Relations between the Union and the Arab Republic of Egypt (Egypt) are developed within the framework of the Euro-Mediterranean Agreement…
- Recital (2)The Partnership Priorities reflect the shared commitment of the Union and Egypt to reinforce cooperation in support of Egypt’s Sustainable…
- Recital (3)On 17 March 2024, Egypt and the Union jointly decided to upgrade their relations to a strategic and comprehensive partnership, based on the…
- Recital (4)In line with the Partnership Priorities, the Union and Egypt are committed to ensuring accountability, the rule of law, full respect for…
- Recital (5)Assistance to Egypt is funded mainly through the Neighbourhood, Development and International Cooperation Instrument – Global Europe…
- Recital (6)The Union recognises Egypt’s key role for regional security and stability, and has a strong interest in preventing short-term economic…
- Recital (7)Recalling the global and regional geopolitical challenges, such as the humanitarian crisis in Gaza, resulting from the aftermath of the…
- Recital (8)The objective of the strategic and comprehensive partnership with Egypt is to elevate the political relations of the Union and Egypt to a…
- Recital (9)Underpinning the strategic and comprehensive partnership is a financial package of EUR 7,4 billion consisting of short- and longer-term…
- Recital (10)Egypt’s macro-fiscal situation has faced significant challenges and has deteriorated substantially over recent months, as external…
- Recital (11)Egypt’s economic and financial situation has been supported by several disbursing IMF programmes since 2016. Those are a three-year…
- Recital (12)After the adoption of a follow-up IMF programme in December 2022, reform progress was less noticeable, although Egypt has implemented steps…
- Recital (13)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…
- Recital (14)In view of a worsening economic situation and outlook clouded by substantial downside risks in relation to ongoing external shocks, Egypt…
- Recital (15)Given that Egypt is a country covered by the European Neighbourhood Policy, it should be considered to be eligible to receive…
- Recital (16)The Union’s macro-financial assistance should be an exceptional instrument of untied and undesignated balance-of-payments support, which…
- Recital (17)Given that there is still a significant residual external financing gap in Egypt’s balance of payments over and above the resources…
- Recital (18)The Union’s macro-financial assistance should aim to support the restoration of a sustainable external financing situation for Egypt,…
- Recital (19)The determination of the amount of the Union’s macro-financial assistance should be based on a complete quantitative assessment of Egypt’s…
- Recital (20)The Commission should ensure that the Union’s macro-financial assistance is legally and substantially in accordance with the key principles…
- Recital (21)The Union’s macro-financial assistance should support the Union’s external policy towards Egypt. The Commission and the European External…
- Recital (22)The Union’s macro-financial assistance should support Egypt’s commitment to foster values shared with the Union, including democracy, the…
- Recital (23)A precondition for granting the Union’s macro-financial assistance to Egypt should be that Egypt continue to make concrete, credible and…
- Recital (24)The link of the Union’s macro-financial assistance to an on-track disbursing IMF programme, with its strong macro-fiscal framework and…
- Recital (25)The release of the Union’s macro-financial assistance is without prejudice to the powers of the European Parliament and the Council as…
- Recital (26)The amounts of the provision required for macro-financial assistance in the form of loans should be consistent with the budgetary…
- Recital (27)The Union’s macro-financial assistance should be managed by the Commission. In order to ensure that the European Parliament and the Council…
- Recital (28)The annual report on the implementation of this Decision should include information on concrete, tangible and credible steps taken by Egypt…
- Recital (29)In order to ensure uniform conditions for the implementation of this Decision, implementing powers should be conferred on the Commission.…
- Recital (30)The Union’s macro-financial assistance should be subject to economic policy conditions, to be set out in a memorandum of understanding…
- Recital (31)Since the objective of this Decision, namely to address Egypt’s external financing needs cannot be sufficiently achieved by the Member…
- Recital (32)In order to enable the prompt provision of macro-financial assistance to Egypt, this Decision should enter into force on the day following…
Text as published in the Official Journal; for the authentic version, see EUR-Lex.
