Cairo

Egypt's President Abdel Fattah al-Sisi begins his third term this week buoyed by massive fresh financing, but experts say the road out of economic crisis will still be long and arduous.

Sisi won December's presidential election with 89.6 percent of the vote, standing against three unknowns.

Talks aimed at brokering a truce between Israel and Hamas in the Gaza Strip will resume in Cairo on Sunday, Egyptian outlet Al-Qahera reported, days after Prime Minister Benjamin Netanyahu gave the green light for fresh negotiations.

Israeli Prime Minister Benjamin Netanyahu gave the go-ahead Friday for a new round of talks on a Gaza ceasefire, a day after the world's top court ordered Israel to ensure aid reaches desperate civilians.

U.S. Secretary of State Antony Blinken landed in Israel Friday for talks with Prime Minister Benjamin Netanyahu, ahead of a U.N. Security Council vote on a U.S. draft resolution noting the need for an "immediate" ceasefire that would allow in more aid.

The World Bank is planning to give Egypt more than $6 billion in financial assistance over the next three years to help it meet its development priorities, the Washington-based lender has announced 

"Over the coming three years, the World Bank Group intends to provide more than $6 billion of support to Egypt," the development lender said in a statement.

The European Union and Egypt on Sunday signed a 7.4-billion-euro financial package to support the indebted north African country, boost energy sales to Europe and stem irregular migrant flows.

The European Union on Sunday announced a 7.4 billion-euro ($8 billion) aid package for cash-strapped Egypt as concerns mount that economic pressure and conflicts in neighboring countries could drive more migrants to European shores.

Greek Prime Minister Kyriakos Mitsotakis expressed satisfaction with the upgrade of European Union relations with Egypt to a Comprehensive and Strategic Partnership, according to government sources commenting on the meeting, in Cairo, with Egyptian President Abdel Fattah al-Sisi on Sunday.

The European Union announced a 7.4 billion euro funding package and an upgraded relationship with Egypt, part of a push to stem migrant flows to Europe that has been criticized by rights groups.

Prime Minister Kyriakos Mitsotakis, along with five more European leaders, will travel to Cairo Sunday.

The other leaders are European Commission President Ursula von der Leyen, Cypriot President Nikos Christodoulides, Austrian Chancellor Karl Nehammer and the Prime Ministers of Belgium, Alexander De Croo, and Italy, Giorgia Meloni.