BSS/AFP) - The EU and Egypt held their first joint summit on Wednesday, inking several loan deals including one worth another four billion euros ($4.6 billion) in European aid for Cairo.

"We will sign a number of agreements that will open even more business opportunities in Egypt," European Commission President Ursula von der Leyen said as she welcomed Egyptian leader Abdel Fattah al-Sisi.

The deals followed a strategic partnership signed in March 2024 as the EU aims to cultivate ties with Egypt, a key player in the Middle East.

A first instalment of one billion euros was made in December 2024, bringing the total financial aid to five billion.

The EU has also unveiled another 1.8 billion euros in investments in partnership with other European financial institutions, along with 600 million euros in aid earmarked for specific projects, of which 200 million will be spent on controlling migration.