Egypt looks to secure at least $5billion from EU in migrant deal

Egypt hopes to secure between $5 billion to $6 billion in aid from the EU as part of a deal aimed at stemming the flow of migrants heading to Europe, according to comments made by the country’s finance minister, Mohamed Maait, cited by AFP. 

EU Commission President Ursula von der Leyen heads to Egypt this weekend accompanied by the leaders of Italy, Greece and Belgium to conclude the migrant deal which is expected to be similar to the accord reached between the EU and Tunisia last July. 

Under the established template, the EU provides aid and investment in exchange for the partner country agreeing to prevent unauthorized migrant boats heading to Europe and to accept migrants who are sent back. 

Von der Leyen will announce the aid figure on Sunday in Cairo, according to AFP.

Egypt is enduring sustained economic crisis including a foreign currency crunch and high inflation. Egypt already hosts around nine million migrants and refugees, including four million displaced Sudanese and 1.5 million Syrian migrants, according to the UN migration agency IOM.