European Union Announces $8 Billion Package of Aid for Egypt

FILE - A vendor carries bread at a popular market in Cairo, Egypt, Jan. 26, 2024. The Egyptian pound slipped sharply against the dollar on March 6, 2024 after the country's central bank raised its main interest rate.

The European Union on Sunday announced a $8 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.