BRUSSELS– European Commission President Ursula von der Leyen announced on Wednesday that Egypt now has access to the Horizon Europe program, but an EU official told Euronews that this access does not automatically guarantee funding.

"Egyptians have now access to apply for funding but the assignment of funds is based on merit," the EU official explained.

Horizon is the EU's flagship program that funds projects across academia, industry and public institutions.

With a total budget of €93.5 billion for 2021–2027, it is the EU’s main program for research and innovation.

Horizon addresses climate change, supports the UN Sustainable Development Goals, and strengthens the EU's competitiveness and economic growth.

"Today we mark Egypt's association to Horizon Europe – that is the world's largest research and innovation program. Horizon is not just good for science. It invests in critical projects for our competitiveness – from clean energy to quantum computing. This is innovation that hits the market. And now Egypt's researchers and talents can benefit too," von der Leyen said in her speech.

Von der Leyen also announced €5 billion in loans to Egypt. However, the approval and partial disbursement of that money has already taken place.

In April 2024, the EU approved and disbursed a €1 billion short-term microfinance assistance loan to help Egypt tackle urgent economic stability challenges.

In May this year, EU countries and the European Parliament agreed further €4 billion under the same framework, which has not yet been disbursed but Wednesday's announcement brings unlocking that funding a step closer.

The €5 billion is part of a of a €7.4 billion package the European Union promised in March 2024 to give to Egypt for the period 2024-2027.

"Today we sign a new tranche of macro-financial assistance for Egypt, reaching a total of €5 billion in support. Your government, President Sisi, has committed to an ambitious reform agenda. With this package, we support and incentivise those efforts," von der Leyen said, addressing Egyptian President Abdel Fattah el-Sisi.

Meanwhile, the European Commission announced a further €75 million for socio-economic development, as Euronews anticipated on Wednesday morning.

The grant aims to promote socio-economic development, strengthen resilience, and foster inclusive growth by improving access to health, education, water and sanitation, especially for women and young people.– Euronews