US offers Egypt $ 9.3 million grant
Egypt-USA, Economics, 12/1/2001

Egypt and the United States signed Friday an agreement whereby the American side will offer Egypt a $ 9.3 million grant to finance poverty-combat programs in Alexandria.

American Charge d'Affaires Reno Harnish said that the grant is added to other $ 15 million offered by the USAID, as part of this year US economic aid to Egypt, to combat poverty and give loans to low-incomed women.

Speaking to reporters, Harnish said the USAID is now focusing on funding small-scale projects in Egypt because they help create more job opportunities and scale down unemployment rate.

He reiterated the US interest in boosting Egypt's economic reform drive via several projects that create jobs for Egyptian youths and contribute to the infrastructure projects.

The USAID has opened 14 offices to receive citizens' applications for the loans in the governorates of Alexandria, Port Said, Assyut, El Bihara, Marsa Matrouh and Kafr El Sheikh, said the American diplomat.

He added that the number of offices will be increased to 22 within the coming two years. Harnish said that the number of loans offered as part of this programme for low-incomed women is estimated at 58,000 one.

The new agreement was inked by Foreign Ministry Undersecretary for International Cooperation Abdullah Mazrban and Harnish.

In 1975, the United States began offering annual economic and military aid to Egypt.

This year's economic aid stand at $ 655 million while the military assistance stand at 1.2 billion.

Previous Stories:
  Egypt's private sector obtains $ 200 mln to overcome current crisis   (11/26/2001)
  Egypt's exports to US hits $500 million in 6 months   (11/22/2001)
  USAID offers egypt le 400 million to boost budget   (11/20/2001)

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