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United States Backs Egypt’s Economic Reforms with $100m

By Modupe Gbadeyanka

Egypt and the United States have signed new bilateral assistance agreements and amendments this week worth over $100 million.

The funding support is to assist Egypt’s economic reforms, Sustainable Development Plan 2030, and private sector, which is expected to lead to growth and job creation.

A statement from the US Embassy in Cairo, the Egyptian capital, said these agreements demonstrate ongoing support from the American people for joint US-Egypt priorities in water, health, education, agriculture, and trade.

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“These agreements reflect our strong and enduring partnership and the impact that our joint efforts have on the people of Egypt,” said US Agency for International Development (USAID) Mission Director to Egypt, Sherry Carlin. “Together with the Ministry of Investment and International Cooperation, we are strengthening the cornerstones of stability and prosperity in Egypt.”

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For nearly four decades, the American people have partnered with the people of Egypt to bolster self-reliance, foster stability, promote economic growth, and reduce poverty. USAID’s program in Egypt, totalling nearly $30 billion since 1978, promotes a healthy, educated, and employed population.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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