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European Union announces €7.4 billion package of aid for Egypt

The European Union on Sunday announced a €7.4 billion aid package for cash-strapped Egypt amid concerns that economic pressure and conflicts and chaos in neighboring countries could drive more migrants to European shores.

The package is scheduled to be signed during a visit by European Commission president Ursula von der Leyen and the leaders of Belgium, Italy, Austria, Cyprus and Greece, according to Egyptian officials.