The European Union is expected to announce billions of euros in grants and loans for Egypt amid economic woes compounded by the wars in neighbouring Gaza and Sudan, Al Jazeera reports, citing Reuters.

A delegation, including European Commission President Ursula von der Leyen and the leaders of Italy, Greece and Cyprus, is expected in Egypt on Sunday.

Egypt’s Finance Minister Mohamed Maait has said the country is expecting $5-6bn in EU funding as part of a broader International Monetary Fund (IMF) deal, which was conditioned on demands such as selling off state assets.

The Reuters news agency, quoting diplomats, said Egypt’s strategic importance has been underscored by the conflict in neighbouring Sudan, which has created the world’s biggest displacement crisis, and the war in Gaza, which borders Egypt’s Sinai Peninsula.