The agreement is designed to enhance cooperation in areas including renewable energy, trade, and security while delivering grants, loans and other funding over the next three years to support Egypt's faltering economy. War in Israel and Gaza View All 222 ImagesInflation has been running close to record highs and many Egyptians say they struggle to get by. Of that, funding from the European Union is expected to total $5-6 billion, Finance Minister Mohamed Maait told Asharq Business. Egyptian officials say Egypt deserves recognition for hosting an estimated nine million foreign residents and largely shutting off irregular migration from its north coast since 2016. CROSSINGS VIA LIBYABut there has been a surge in Egyptians trying to cross to Europe via Libya, and the European Union is already providing funding aimed at reducing those flows.

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Persons: Ursula von der, Mohamed Maait, Abdel Fattah al, Egypt's, Patrick Werr, Philip Blenkinsop, Renee Maltezou, Aidan Lewis, Nick Zieminski Organizations: IMF, Diplomats, Cypriot, European, Asharq Business, Rights Watch Locations: CAIRO, Egypt, Cairo, Israel, Gaza, Sudan, Qatar, United States, European Union, LIBYA, Europe, Libya, Crete, Gavdos, Bangladesh, Pakistan, Tunisia, Mauritania, U.S