The determination of the amount of the Union’s macro-financial assistance should be based on a complete quantitative assessment of Egypt’s residual external financing needs and should take into account Egypt’s capacity to finance itself with its own resources, in particular the international reserves at its disposal. The Union’s macro-financial assistance is part of an international joint effort, effectively complementing the programmes and resources provided by the IMF and the World Bank. The determination of the amount of the assistance should also take into account expected financial contributions from multilateral donors and the need to ensure fair burden sharing between the Union and other donors, as well as the pre-existing deployment of the Union’s other external financing instruments in Egypt and the added value of the Union’s overall involvement in Egypt.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
