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Egypt signs $190 mn US grant to support budget

Egypt has signed an agreement on US aid worth $190 million, with US Ambassador in Cairo Anne Patterson in attendance

Ahram Online, Sunday 10 Mar 2013
Egypt signs $190m
US Ambassador to Egypt Anne Paterson (Photo: AFP)
Views: 1956
Views: 1956

Egypt signed an agreement with the US government Sunday under the terms of which it will receive a $190 million grant to back its state budget, reported Al-Ahram Arabic-language news site.

The grant is the first tranche of a US aid package to Egypt worth $1 billion announced by President Barack Obama in May 2011, according to Egyptian Minister of Planning and International Cooperation Ashraf El-Arabi.

El-Arabi said the agreement would be presented to the Egyptian Shura Council (the upper house of parliament) for ratification. The grant is expected to be received before the year’s end.

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